If A bus travels provide the services for transportation of passengers. this travels charged gst @ 5% and this travel agency purchase a car (Capital Goods ) for business purpose and paid gst @ 28%. So A bus travel is eligible to claim input tax credit on purchase of Capital goods.
Please suggest me with proper Sections and guidelines..
Thanks
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Input tax Credit to Travel Agency
Replies (5)
as per the rule for renting cab or we can also include buses and other passenger vechile . GST rate is 5 %without GST and 12% with GST. so as per rule they can not take credit , but this matter is debatable till now.
Tour Operator can charge 5% GST with condition that ITC shall not be available. If he avails ITC, Department may demand full 18% GST.
Yes... I agreed to Taxhelp....
If the agency charge 5% slab then can't avail the ITC benefits..
If the agency charge 12% slab then can avail the ITC benefit for the Purchases...
If the agency charge 5% slab then can't avail the ITC benefits..
If the agency charge 12% slab then can avail the ITC benefit for the Purchases...
Thanks to all for your suggestions..
i having my own traveling company to travel passenger
in that case can i take credit of repairing and maintence of the buses
like tyres and insurance of the buses
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