25 April 2018
A person having 3 Vehicles used for transportation of passengers as taxi. And buy a new Car innova for taxi purpose and GST levied on it. Can he claim ITC on Innova Car although not having turnover greater than 20 lakhs during the year. If itc claimed and shown in ITC credit Ledger, Can it be claimed as refund if gst liability is lesser than ITC available. Gst liability for the year 2018-19 deemed to be Rs. 100000/- ITC available on Innova Car 300000/- Can refund be claimed for remaining Rs.200000/- at the year end
CAclubindia
