watch_later 04/10/18

I AM GTA SERVICE PROVIDER  CAN  I CLAIM ITC ON PURCHASES OF TRUCK

1 Response | Latest response: 05/12/18 | Sort by Likes(thumb_up) Recent | GST Reply
watch_later 05/12/18

Read with Notification no 11/2017-Central Tax (Rate) Dated 28.06.2017 which again amended by further notification no 20/2017-Central Tax (Rate) Dated 22.08.2017. GTA having an option to charge 5% GST with no benefit to claim ITC or 12% with ITC except providing services exempt from tax by notification no.12/2017-Central Tax (Rate) dated 28.06.2017.

To make it simple. 

12% GST by GTA---------- ITC can avail by GTA

5%   GST by GTA--------- NO ITC benefit to GTA.

As per above rule, you should charge GST through out the year on your sales @ 12% so as to avail ITC benefit on purchase of Truck..

 

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