a truck owner let out vehicle to GTA service providers
the truck owner collecting GST @ 18% and remit to government.
now the question is
the truck owner claims ITC on truck repair and truck insurance.
can you please guide will this ITC allowed or denied under section 17(5)
3 Replies
sabyasachi mukherjee
(27574 Points)
Replied 21 April 2024
Sec 17(5) to be understood properly deals with blocked credit.
Danish Abbas
(153 Points)
Replied 22 April 2024
Truck driver has two option to charge GST
1) Charge gst @ 12% and take the ITC
2) Paid gst under RCM @ 5% without taking the ITC.
In your what option the truck driver has availed?
1) Charge gst @ 12% and take the ITC
2) Paid gst under RCM @ 5% without taking the ITC.
In your what option the truck driver has availed?
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