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 

AI Summary

Input tax credit on new vehicle purchases for SAC 9967 transport support services hinges on GTA vs GTO classification Input tax credit on purchase of a new vehicle is discussed in the context of a registered person supplying transport-related services under SAC 9967 and discharging GST at 5% (under reverse charge for some recipients and forward charge for others). It is stated that ITC can be availed, but that such ITC availability is limited to goods transport agency (GTA) supplies and not to goods transport operator (GTO), implying that eligibility depends on whether the supplier's activity qualifies as GTA for GST purposes. SAC 9967 is described as 'supporting services in transport,' and the practical consequence raised is that classification and the applicable charge mechanism/rate (5% or 18%) may affect whether ITC can be claimed.