Seeks to amend Notification No 1135-F.T. dated 28.06.2017 relating to rates of taxable services which inter alia seeks to restrict ITC on supply of passenger transportation service and renting of any motor vehicle to 2.5%.

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..... REVENUE NOTIFICATION No. 2150-F.T. Dated, Howrah, the 7th day of December, 2023 [Corresponding Central Notification No. 12/2023-Central Tax (Rate)] In exercise of the powers conferred by sub-section (1), sub-section (3) and sub-section (4) of section 9, sub-section (1) of section 11, sub-section (5) of section 15, sub-section (1) of section 16 and section 148 of the West Ben .....

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..... ut tax charged on the input service in the same line of business in excess of the tax paid or payable at the rate of 2.5%, shall not be taken. Illustration: A engages 4B for transport from New Delhi to Jaipur in a motor cab for Rs. 1000. B , for supplying the said service, hires a motor cab with operator from C for Rs. 800. C charges B State tax at the rate of 6% (Rs. 48). If B char .....

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..... pplying the said service, hires a motor cab with operator from C for Rs. 800. C charges B State tax at the rate of 6% (Rs. 48). If B charges A State tax at the rate of 2.5%, he shall be entitled to take input tax credit on the input service in the same line of business supplied by C only to the extent of Rs. 20 (2.5% of Rs. 800) and not Rs. 48. ; (iii) against serial number 34, .....

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