Madam/Sir,
We are private limited company, we had taken a rent a cab service from registered cab service provider with tax charged 12% , Cgst 6% and Sgst 6%.
Kindly advise regarding input credit on this case.
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ITC on rent a car
Replies (2)
As per section 17(5)(b)(I) ITC on renting of vehicles is blocked credit , Input tax credit not available .
If motor vehicle which is being rented is 12 or more seater then credit is eligible. If not credit is not eligible.
Also, to reduce tax costs may look at comparing quotes from other rent a cab providers who charge 5% GST instead of 12%.
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