If I am Transporter and I purchased new truck can I get ITC of it?
5 Replies
Arpit Aggarwal
(Accountant)
(82 Points)
Replied 04 November 2018
yes, if charge 12℅ on transportation bill.
Manjur Khanushiya
(239 Points)
Replied 04 November 2018
but as per section 17(5)(a)(2) there is only supply of goods
Arpit Aggarwal
(Accountant)
(82 Points)
Replied 04 November 2018
16. Eligibility and conditions for taking input taxcredit.
[1] Every registered person shall, subject to such conditions and restrictions as may be prescribedand in the manner specified in Section 49, be entitled to take credit of input tax charged on any supply of goods or services or both to him which are used or intended to be used in the course or furtherance of his business and the said amount shall be credited to the electronic credit ledger of such person.
[1] Every registered person shall, subject to such conditions and restrictions as may be prescribedand in the manner specified in Section 49, be entitled to take credit of input tax charged on any supply of goods or services or both to him which are used or intended to be used in the course or furtherance of his business and the said amount shall be credited to the electronic credit ledger of such person.
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 04 November 2018
Are you Transporter Or GTA
Lets Assume You R Transporter :
Transporter Services R exempted as per Notification 12/2017 CT (r), Hence on purchase of Truck , you wont be able to claim ITC
And
If you Are GTA , and charging GSt @ 12% can avail ITC as per Notification No. 20/2017 – Central Tax (Rate), Hence U can avail ITC on Truck
Lets Assume You R Transporter :
Transporter Services R exempted as per Notification 12/2017 CT (r), Hence on purchase of Truck , you wont be able to claim ITC
And
If you Are GTA , and charging GSt @ 12% can avail ITC as per Notification No. 20/2017 – Central Tax (Rate), Hence U can avail ITC on Truck
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