22 May 2019
One gst registered composite dealer trading for kirana goods taxable and exempted goods selling. 1)Tax payble rate 1% on taxable goods only is correct or incorrect 2)At present freight charges paid 5 thousand above rcm applicable.
22 May 2019
1. It is correct . As per notification dated 01/ 2018 dt 01.01.2018, turnover in case of traders has been defined as ‘ Turnover of taxable supplies of goods’ 2. RCM above 5000 is not applicable . However , RCM is still applicable on payment to GTA ( They can charge 5% without ITC or 12% with ITC ) (If GTA opts to charge 5% , RCM is applicable ) 2
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