9911796707
TMI BlogCredit of GST on Car RentX X X X Extracts X X X X X X X X Extracts X X X X ..... We have taken a car on monthly hire charges for use of factory. Hire charges include Fuel Charges driver's salary. The Service Provider is unregistered. Under which SAC No. reverse GST is payable and whether we can take credit of such reverse payment. Thanks, - Reply By KASTURI SETHI - The Reply = SAC 9966 5% without ITC 12 % with ITC Earlier it was 18%. Reduced in the meeting GST Counci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l held on 5 6.8.17 - Reply By Murari Agrawal - The Reply = Thanks Sir, pl clarify can we pay 12% on reverse charge basis and take ITC ? This question arises because no ITC is available on purchase of Car. Also, the condition of use in furtherance of business is to be considered. - Reply By KASTURI SETHI - The Reply = In course or furtherance if business is first condition . There is a diff ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erence between purchase of a car and hiring a car. Both have different codes. HSN for purchase and SAC for service. - Reply By Himansu Sekhar - The Reply = You cannot take the credit - Reply By Rajagopalan Ranganathan - The Reply = Sir, According to Section 17 (5) (a) of CGST Act, 2017 input tax credit shall not be available in respect of motor vehicles and other conveyances excep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t when they are used (i) for making the following taxable supplies, namely:- (A) further supply of such vehicles or conveyances ; or (B) transportation of passengers; or (C) imparting training on driving, flying, navigating such vehicles or conveyances; (ii) for transportation of goods; Therefore if you hire the motor vehicle for use in the factory ITC in respect of GST paid on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such vehicle is not available. - Reply By KASTURI SETHI - The Reply = Yes. As detailed by Sh.Ranganathan Sir and also opined by Sh.Himansu Sekhar, you are to ascertain whether you fulfill the conditions laid down under Section 17(5) of CGST Act.2017 . Thanks to both experts for making the picture clear. - Reply By KASTURI SETHI - The Reply = Dear Querist,. If you are covered under any of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exclusion clause A, B, C , (ii) detailed above, then you can take ITC. ITC is conditional. - Credit of GST on Car Rent - Query Started By: - Murari Agrawal Dated:- 23-8-2017 Goods and Services Tax - GST - Got 7 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
