My business is provide vanity van to film industry on rental basis. I Purchase 4 new Vanity Van which ITC reflected in my GST Credit ledger. Can I apply for refund of this ITC.
10 September 2021
Are you not paying GST on rental income? If yes, and if you have excess ITC due to inverted duty structure (i.e. rate of GST on inputs more than that on outputs), then you may apply for refund.
CAclubindia
