RCM on vehicle renting services
This query is : Resolved
18 May 2022
IS the RCM applicable on following services received by us-
1. We have hire a bus for staff tour
2. Hire car for Traveling purpose
IS the TDS applicable on bus hire Charges exceeds prescribed limit U/S 194C
1. We have hire a bus for staff tour
2. Hire car for Traveling purpose
IS the TDS applicable on bus hire Charges exceeds prescribed limit U/S 194C
18 May 2022
1 RCM applicable.
2 RCM applicable.
Yes, TDS applicable.
2 RCM applicable.
Yes, TDS applicable.
18 May 2022
Yes, TDS will be applicable if the aggregate of all bills/payment exceed Rs. 1,00,000 during the year or single bill amount exceeds Rs. 30,000
18 May 2022
IS the TDS applicable U/S 194 C or 194 I
18 May 2022
TDS applicable under section 194C.
19 May 2022
With reference to the Notification No. 22/2019- Central Tax (Rate) dated 30/09/2019
If the recipient being a body corporate located in the taxable territory receives the services of renting of motor vehicle from any person other than a body corporate who is paying GST @ 2.5% CGST & SGST each, the recipient has to pay GST under RCM.
> If the person who provides the services is a body corporate - No RCM
> If the person who provides the services is not a body corporate - RCM is applicable
> If the person who provides the services is not a body corporate and charges GST @ 6% or more CGST & SGST each - No RCM
> If the person who receives the services is a body corporate - RCM is applicable
> If the person who receives the services is not a body corporate - No RCM
Yes, TDS is also applicable as per the limits as prescribed in the Income Tax act.
If the recipient being a body corporate located in the taxable territory receives the services of renting of motor vehicle from any person other than a body corporate who is paying GST @ 2.5% CGST & SGST each, the recipient has to pay GST under RCM.
> If the person who provides the services is a body corporate - No RCM
> If the person who provides the services is not a body corporate - RCM is applicable
> If the person who provides the services is not a body corporate and charges GST @ 6% or more CGST & SGST each - No RCM
> If the person who receives the services is a body corporate - RCM is applicable
> If the person who receives the services is not a body corporate - No RCM
Yes, TDS is also applicable as per the limits as prescribed in the Income Tax act.
19 May 2022
IS there any restriction on claiming ITC on the same.
19 May 2022
ITC can be claimed on bus hiring labour welfare expenses.
ITC can't be availed on car hiring it's blocked credit.
ITC can't be availed on car hiring it's blocked credit.
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