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Bus purchase itc

rajesh jha (64 Points)

29 October 2018

I have toors & travels business. I purchase bus in which gst paid 623689/- can i claim ful gst amount as in itc

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4 Replies

CA Ankit R Momaya (Partner at Bhat Momaya & Associates) (2319 Points)
Replied 29 October 2018

Yes if it is used for transportation of passengers full credit is available.

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Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 29 October 2018

Yes , you can claim ITC

MY Indians Tv (292 Points)
Replied 30 October 2018

yes as per sec 17(5) of cgst itc on motor vehicles used for transportation of passenger is allowed

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 30 October 2018

If You are Tour Operator Then you are not liable Claim ITC , As per Notification 11/2017 CT (r) , tour operator is liable charge GST 5% with No ITC

Hence if fall under the defination of Tour Operator As explained in the Notification then You are Not Liable Take ITC

Explanation.- "tour operator" means any
person engaged in the business of planning,
scheduling, organizing, arranging tours
(which may include arrangements for
accommodation, sightseeing or other similar
services) by any mode of transport, and
includes any person engaged in the busines of operating Tours