Availement of Input Tax Credit on Motor vehicles
Query (Issue) Started By: Dated:- 22-2-2019 Last Reply Date:- 23-2-2019 Goods and Services Tax – GST
Got 5 Replies
GST
Can some one help me on below query ?
\nRecently through an amendment, Input Tax Credit is allowed on Motor Vehicles if the approved seating capacity is more than 13 persons ( Including Drivers ) , Input Tax Credit is admissible with out any restriction. The same is effective from 01-02-2019.
\nIn the case of following situations ,
\nIf the Date of Rendering of Services falls before 01-02-2019 [ Effective Date of Amendment ], But the Invoices for the same has been received after 01-02-2019 [ Effective Date of Amendment ] –
\nCan the recepient of the service claim th<\/p>\n
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For full text:-Visit the Source <\/a><\/p>\n
\nReply By Rajagopalan Ranganathan:
\nThe Reply:
\nSir,
\nSection 17 (5) prescribes that "notwithstanding anything contained in sub-section (1) of section 16 and sub-section (1) of section 18, input tax credit shall not be available in respect of the following, namely :-
\n[(a) motor vehicles for transportation of persons having approved seating capacity of not more than thirteen persons (including the driver), except when they are used for making the following taxable supplies, namely:-
\n(A) further supply of such motor vehicles; or
\n(B) transportation of passengers; or
\n(C) imparting training on driving such motor vehicles
\nTherefore motor vehicles for transportation of persons havi<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nAccording to Section 13 (2) CGST Act, 2017 "the time of supply of services shall be the earliest of the following dates, namely :-
\n(a) the date of issue of invoice by the supplier, if the invoice is issued within the period prescribed under [* * *] section 31 or the date of receipt of payment, whichever is earlier; or
\n(b) the date of provision of service, if the invoice is not issued within the period prescribed under [* * *] section 31 or the date of receipt of payment, whichever is earlier; or
\n(c) the date on which the recipient shows the receipt of services in his books of account, in a case where the provisions of clause (a) or clause (b) do not apply :
\nTherefore if the invoice is issued <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n