Input credit of gst on rcm @5%
This query is : Resolved
Harish Chandra
(Querist)
03 January 2019
If a registered person under GST paid RCM @5% at Consignment Note of Goods Transporter Agency, Will input allowed of RCM paid on the same.
further I want to ask If a transporter charge GST @5% on his bill, will input of the said GST will be allowed or not.
What will be your reply on above two cases if GST Rate taken at @12%.
further I want to ask If a transporter charge GST @5% on his bill, will input of the said GST will be allowed or not.
What will be your reply on above two cases if GST Rate taken at @12%.
CA R SEETHARAMAN
(Expert)
03 January 2019
ITC allowed in all'the above cases to the service receiver.
Harish Chandra
(Querist)
03 January 2019
But as per Notification No. 11/2017, If GST @5% charged on GTA service, the input will not be allowed, you mean to say this restriction as per this notification is only under Forward charge. But not to Service receiver in case of Input service ( supplier charge GST @5% ) and GST RCM paid on GTA Service on service received from GTA.
CA R SEETHARAMAN
(Expert)
03 January 2019
Yes service receiver ITC available. For service provider GTA ITC not available on 5% GST.
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