Input Tax Credit on Purchase of Car for Rent-a-Cab Service – Marred by Conflicting Advance Rulings
Rent-a-cab (RAC) operators typically either purchase or take cabs on rent for providing the outward taxable supply of RAC service. Input Tax Credit (ITC) is eligible to operators who take cabs on rent for providing the outward taxable supply of RAC service expressly under Section 17 of the Central Goods and Services Tax (CGST) Act, […]