The Telangana Authority of Advance Ruling (AAR) held that Input Tax Credit (ITC) is not allowed to be claimed if concessional rate of 5% GST is opted. The applicant, M/s. Sri Krishna Logistics is in the business of transportation of goods as a GTA. They have stated that they are desirous of starting business of transportation of passengers in Telangana State by deploying Air Conditioned buses as Stage carriages. They have stated in the application that there is ambiguity regarding applicability of rate of tax for their proposed business with respect to Sl.No.8(ii) and 8(vi) of Notification 11 of 2017.
Source Taxscan
