If problem persists after reading FAQs, please do mail us your concern at team@gstcornor.com or call us at +91-8989077644.   If you face any problem in Login or Operating E-Library Portal, please download our FAQs.    

GST News Details

ITC is not allowed to be claimed if concessional rate of 5% GST is opted

Applicant has stated that they will be in the business of passenger transport in Air conditioned buses as stage carriages, the applicable entry in view of the above discussions is Sl.No.8(ii)(b) of Notification No.11 of 2017, dt: 28-06-2017. Further they are liable to pay tax at the rate of 2.5% under CGST & SGST respectively if they are not claiming any ITC on goods and services used in supplying service in the said entry. Further there is no exclusion of services from other taxable persons in the same line of business from this condition, as the entry clearly mentions that ITC should not be taken on ā€œGoods & Service used in supplying the serviceā€. Therefore if they are recipient of services from other suppliers who are in the same line of business and would like to claim a lower rate of tax under Sl.No.8(ii)(b), they cannot claim the credit of input tax charged on services from these other suppliers of similar service.