Gta and rcm - input credit
This query is : Resolved
31 May 2017
Dear experts
when a service receiver for goods transport, pays GST on Reverse charge - will he be eligible to take such RCM as input credit
Assume his out put is taxable under GST
Thank you
when a service receiver for goods transport, pays GST on Reverse charge - will he be eligible to take such RCM as input credit
Assume his out put is taxable under GST
Thank you
31 May 2017
Yes input credit is available on such RCM payment.
02 June 2017
Thank you
my doubt is because in the schedule of Service GST rates they have mentioned in sl no 3 Service of Goods transport agency (GTA ) in relation to transportation of goods would be 5% GST rate - NO ITC.
Also this service is covered under RCM
when they have mentioned "NO ITC" - whether the GST is paid by service provider or by service receiver under RCM, in both cases it is not eligible for input credit
i think my understanding is incorrect based on your comment, but still like your advice
Thank you
JKG
my doubt is because in the schedule of Service GST rates they have mentioned in sl no 3 Service of Goods transport agency (GTA ) in relation to transportation of goods would be 5% GST rate - NO ITC.
Also this service is covered under RCM
when they have mentioned "NO ITC" - whether the GST is paid by service provider or by service receiver under RCM, in both cases it is not eligible for input credit
i think my understanding is incorrect based on your comment, but still like your advice
Thank you
JKG
02 June 2017
No ITC is for the service provider.
02 June 2017
Thank you Mr.Seetharaman
I stand corrected
with kind regards
Govindaraj
9940634547
Vestas
gokol@vestas.com
I stand corrected
with kind regards
Govindaraj
9940634547
Vestas
gokol@vestas.com
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