FREIGHT ON GST UNDER RCM AND CREDIT

Save Share

This query is : Resolved

Quick Summary

This discussion clarifies the application of GST on freight services, particularly concerning the Reverse Charge Mechanism (RCM). It addresses scenarios where consignment notes and bills are received, and when payments are made via cash or payment voucher. Key questions revolve around the tax rate under RCM, whether RCM applies without a consignment note, and how to claim Input Tax Credit (ITC) for GST paid under RCM.

a eranna

a eranna (Querist)
Follow

21 October 2022 SIR

WE HAVE MANUFACTURING COMPANY AND WE REGISTERED SUPPORT SERVICE OF GST

WE HAVE 2 TYPES OF TRANSCATIONS
1. FREIGHT INWARD AND OUTWARD (CONSIGNMENT NOTE RECEIVED AND BILL RECIEVED)
2.FREIGHT INWARD AND OUTWARD (CONSIGNMENT NOTEN RECEIVED AND BILL RECIEVED NOT RECEIVED AND PAYMENT MADE THROGH CASH AND PAYMENT VOUCHER)

MY QUERY
1. HOW MUCH TAX RATE WE HAVE PAID UNDER RCM
2. WHITH OUT CONSIGNMENT ALSO RCM IS APPLICABLE
3. HOW RATE WE HAVE TAKEN CREDIT
PLEASE SUGGEST AND SEND NOTIFICATIONS

REGARDS