Forums

Charge

Indirect Taxation

Tax paid 5% = Limited ITC is available for renting motor car Tax paid 5% = But no itc available for GTA Why ?


Sushmita Chowdhury

Sushmita Chowdhury

CA Inter

710

23-Feb-24 12:24

86

Answers (8)

Yes right. Even for renting of car only same line of business ITC is allowed. In case of GTA, generally if 5% is opted supplier opts for RCM.


Shiva Teja

Shiva Teja

Faculty

23-Feb-24 13:06

Shiva Teja Faculty

Yes right. Even for renting of car only same line of business ITC is allowed. In case of GTA, generally if 5% is opted supplier opts for RCM.

Sir in Gita also there can be same line of business Then why is limited ITC not allowed there


Thread Starter

Sushmita Chowdhury

Sushmita Chowdhury

CA Inter

710

23-Feb-24 14:00

Thread Starter

Sushmita Chowdhury

Sir in Gita also there can be same line of business Then why is limited ITC not allowed there

Correction = GTA not gita Sorry for my keyboard


Thread Starter

Sushmita Chowdhury

Sushmita Chowdhury

CA Inter

710

23-Feb-24 14:00

Thread Starter

Sushmita Chowdhury

Correction = GTA not gita Sorry for my keyboard

Yes but that is not allowed as ITC.


Shiva Teja

Shiva Teja

Faculty

23-Feb-24 14:31

Shiva Teja Faculty

Yes but that is not allowed as ITC.

Why is it allowed for motor vehicle renting but not for GTA


Thread Starter

Sushmita Chowdhury

Sushmita Chowdhury

CA Inter

710

23-Feb-24 14:35

My understanding is that generally when GTA opts 5 percent they would prefer RCM only


Shiva Teja

Shiva Teja

Faculty

23-Feb-24 14:36

Thread Starter

Sushmita Chowdhury

Ok

Done.


Shiva Teja

Shiva Teja

Faculty

25-Feb-24 18:27

Individual Modules Offer
SM Marathon Part- 2 with Suraj Sir! YT Live
AFM Marathon
Adv Acc