GST ON TRANSPORT SAC 9967 CAN AVAIL ITC ON PURCHASE OF NEW VEHCILE

[PN ELAMPARRUTHY]

CAN AVAIL ITC ON PURCHASE OF NEW VEHCILE,FOR FY 24-25 DISCHARGE THE LIABILITY IN 5 IN RCM AND 5 IN FCM 

[Sadanand Bulbule]

Yes. You can.

[PN ELAMPARRUTHY]

Issuing a invoice only on kms basic, (not like GTA), what is the sac code need ? this registered person issuing to vendors 5 in rcm for some companies for others they 5 and 18 on rates .. ?

[Sadanand Bulbule]

The facility of ITC is available  only to GTA and not to GTO.

[PN ELAMPARRUTHY]

SAC 9967 PRESENTLY USING IS THIS CORRECT SIR..

 

[Sadanand Bulbule]

SAC-9967

Supporting services in transport

[PN ELAMPARRUTHY]

even discharing the liability at 5% rate of a tax sir can claim ITC 

[Shilpi Jain]

If you are paying tx @ 5% for GTA service - no ITC available.

If your output liability is RCM tax paid - no credit will be available to supplier.

[PN ELAMPARRUTHY]

Provided that credit of input tax charged on goods and services used  in supplying the service has not been taken  

[PN ELAMPARRUTHY]

even they issing the invoice for GOOD Transport Operations madam..

AI Summary

GST on transport services: ITC entitlement depends on SAC 9967 classification and 5%/RCM payment conditions. The issue concerns claim of input tax credit on a new vehicle used for services billed under SAC-9967 (Supporting services in transport). Contributors note conflicting views, but authoritative replies state ITC is available only in the Goods Transport Agency context, not for other transport operations; payment of tax at the 5% rate for GTA services precludes ITC; tax paid under the reverse charge mechanism does not create supplier credit; and ITC is allowable only if input tax on goods and services used in supplying the service has not already been taken.