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CENVAT ON RCM OF RENT A CAB, Goods and Services Tax - GST |
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CENVAT ON RCM OF RENT A CAB |
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The co-op credit society of employees hired a bus from a individual to transport its member from office to railway station. Society recovers amount from its member for such service. Is society liable to pay GST on amt recovered from members? Other question as per new notification, is society liable for RCM on bus service taken from individual? and can it claim cenvat? Posts / Replies Showing Replies 1 to 2 of 2 Records Page: 1
As per S.No. 9 of Notification 26/2012, service tax is payable on 40 % of the gross amount in case of rent a cab service. The said entry, as it was effective from 01.07.2012 Renting of any motor vehicle designed to carry passengers. 40 % No cenvat credit can be availed on any inputs, capital goods or input services. ... Motor cab means passenger vehicles carrying upto 6 passengers. It may be noted that limited cenvat credit has been allowed for renting of motor cabs.
I guess the query is pertaining to GST. Page: 1 Old Query - New Comments are closed. |
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