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Hire income from agriculture farm equipments is taxable or not in indian gst

R.Anbazhagan (auditor) (21 Points)

04 August 2020

hire income from agriculture farm equipments is taxable or not in indian gst

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2 Replies

Parvej akhtar (Professional) (105 Points)
Replied 04 August 2020

It is exempt vide notification number 12/2017 S No. 54(d)

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Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 05 August 2020

Renting/leasing of agricultural machinery/equipment is exempted from GST vide Notification No.12/17-CT(R) dated 28.6.17 (conditions mentioned therein are to be fulfilled)

Since agricultural machinery/equipment is to be used for supplying exempted service, ITC is not admissible. If used for taxable output supply of service, ITC is admissible.