hi , is GST credit available to transporter ...
who is not covered in. RCM ....& not charging GST @ 5 %
.......
He is paying GST @ 12% on forward charges basis ....
IS ITC available to him on purchase of truck .... ??
he is having 2 TRuck ..... total GST paid on. truck acquisition is around 6lacs ....
10 Replies
Sarath Chandra
(CA Final Student)
(566 Points)
Replied 01 September 2018
Hi Shyam,
Yes, you can avail ITC. Sec. 17(5) which talks about 'blocked credits' doesn't apply to vehicles purchased for transportation of goods.
Hence, ITC can be availed.
Yes, you can avail ITC. Sec. 17(5) which talks about 'blocked credits' doesn't apply to vehicles purchased for transportation of goods.
Hence, ITC can be availed.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 01 September 2018
Yes , As per notification 22/2017 , GTA given option to charge Gst 12% on forward charge can avail ITC on his inward supply.
Hence you can avail ITC
Hence you can avail ITC
Shivam RC
(Student)
(23683 Points)
Replied 01 September 2018
You can avail the benefit of INPUT TAX CREDIT ( ITC ), since you are using the Trucks in the course of business i.e Transportation of Goods and the credit of the same is not Blocked u/s 17(5).
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 01 September 2018
But As per Notification 12/2017 CT (r) , under S.no.18 (Hsn 9965) Transporter services by road is exempted , why are you charging 12 % Gst on your Outward supply.
Shyam Prajapati
(34 Points)
Replied 01 September 2018
because I want to take credit of GST paid on trucks purchase
S.Siju Gemin
(Accountant)
(64 Points)
Replied 23 July 2019
Can the transporter claim refund of the input credit of the truck purchase
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 24 July 2019
The GTA is required to claim ITC on his inward supplies if charge GST 12% on forward charge , hence if you are transporter & not GTA then cannot claim ITC as your your outward supply is Exempted
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