CAN WE CLAIM ITC ON MOTOR VEHICLE PURCHASES WHEN TCS IS PAYABLE? (purchased by GTA for tranportation of goods)
Menu
Can we Claim ITC on motor vehicle purchases when TCS is payable?
Replies (4)
If GTA pays GST @ 12% on forward charge basis, then only he is eligible to avail ITC on motor vehicle.
Yes if he is register and not covered under RCM or 5% tax rate.
claim on load carrier only not for own use of car or any two wheelers
Yes, credit shall be available for GTA. However, such GTA must be covered under forward charge and pay GST @ 12%.
Recent Threads
- How to surrender EPF registration of pvt company?
- Invoicing and GST Taxability for a Solar EPC Busin
- AI for Legal Translation with Lekhak.app
- Eway though Casual GST Registration to same person
- How to utilize LTCL only while utilizing LTCG Exem
- Long Term Capital Gain Tax for F Y 2025-26
- Wrong PAN Card issued by the department
- 54EC BONDS INVESTMENTS FOR LONG TERM CAPITAL GA
- About ex gratia
- FORM 26QB - PURCHASE BY TWO PARTNER
Related Threads
CAclubindia
