Itc on bus hire
This query is : Resolved
22 November 2022
Is amendment to section 17(5) of cgst act 2017 giving restriction to avaling ITC in respect of gst charged on hiring effective from 01.02.2019 only or retrospectively from 1st july 2017.
23 November 2022
Section 17 (5) had clearly debarred Input Tax Credit on motor vehicles or conveyances used in transport of passengers till the date of the amendment i.e. 01.02.2019.
However with effect from 01.02.2019, Input Tax Credit has been allowed on leasing, renting or hiring of motor vehicles, for transportation of persons, having approved seating capacity of more than thirteen persons.
However with effect from 01.02.2019, Input Tax Credit has been allowed on leasing, renting or hiring of motor vehicles, for transportation of persons, having approved seating capacity of more than thirteen persons.
24 November 2022
Thanks sir. One of the Exception, viz, (B) given to section 17(5)(a) in which case ITC can be availed is 'transportation of passengers'. Which are the passengers referred to? Whether office staff using buses provided by company does not come under this category of passenger?
24 November 2022
The passengers referred herein is carrying capacity of the bus as per motor vehicle act. It can be any.
28 November 2022
The amendment is prospective and office staff is covered under it.
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