Goods and Services Tax – Started By: – RAVINDRA SANCHETI – Dated:- 27-12-2017 Last Replied Date:- 13-3-2018 – Hello Sir I have following query – Assessee have purchased one Bus and one car to give on rent to different companies for their employees and guest pick up and dropping facility. They charged rent on monthly basis including per KMS basis. Need clarifications on following with reference to Notification no 11/2017, 20/2017, 31/2017 of Central Tax (Rate) 1. What should be the SAC code for rent services – 9964 passenger transport services or 9966 Rental Services of Transport Vehicle. As per me should be 9966. 2. Whether Assessee can avail ITC benefit on Bus and Car Purchase (with payment of 12% GST) If I go with SAC code 9966 then as p
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or transportation of passengers . It will not be correct to avail the credit on Rental services. Clause vi – 9964 covers where owner of motor vehicle used it for transporting passenger . In your case its being rented out , hence it covers under 9966 . Regards – Reply By CS SANJAY MALHOTRA – The Reply = ITC Credit is available if the vehicle is given on rent. It's usage can be for any purpose and in your case, the service rendered is Renting of Motor Vehicle and ITC admissible. – Reply By KASTURI SETHI – The Reply = Sh.CS Sanjay Malhotra Ji, Sir, Such replies/clarification are worth saving to be used as ready reckoner for future by the assessees. Thanks a lot. – Reply By Ganeshan Kalyani – The Reply = ITC is admissible u/s 17 (5)(a)(i)(A
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