TaxTMI 
TaxTMI 
Sir
Pls guide what does no itc mean here.
Renting of motor cab 5%no itc?
23 Jul 2017 
6 Replies 
4023 Views Asked by
No Input Tax Credit for motor cab rental with fuel included: RCM payer cannot claim input tax credit on services.
Renting of motor cab services with fuel included is taxable under a concessional rate but only if input tax credit has not been taken on goods or services used to supply that service. When a cab operator pays tax under reverse charge to an unregistered supplier, the operator must pay the tax as recipient but remains ineligible to claim input tax credit if the statutory condition prohibiting credit applies. (AI Summary)
Renting of motor cab services with fuel included is taxable under a concessional rate but only if input tax credit has not been taken on goods or services used to supply that service. When a cab operator pays tax under reverse charge to an unregistered supplier, the operator must pay the tax as recipient but remains ineligible to claim input tax credit if the statutory condition prohibiting credit applies. (AI Summary)