dumper purchased given on rent
Satish Kavitake (389 Points)
26 June 2018pl advise whether gst rate on rent charged to customer
and whether can claim gst credit paid on purchases of dumper
Satish Kavitake (389 Points)
26 June 2018
CA Padmasri Manyam
(CA in Practice)
(1340 Points)
Replied 26 June 2018
Procurement of motor vehicle for further supply (includes supply of goods or supply of service) is eligible credit. 100% credit can be taken in the year of acquisition.
Transfer of right to use goods without transfer of title (lease) shall be considered as supply of service. However, the rate of tax is as applciable to the respective dumper (can adopt the rate charges by your vendor).
Monthly tax invoice can be issed for rental charges along with GST.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)