Rcm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 February 2018
Dear Expert,
Kindly suggested the Query:-
We are manufacturer and we paid Freight to GTA in Cash if Amount is under 10 K or through Bank. we want to know, is? RCM is applicable on Cash Payment of freight.
Example: 1
Freight A/c -6000
To, Cash- 6000
(Freight Paid to GST Registered Transporter)
Example: 2
Freight A/c -6000
To, Cash -6000
(Freight Paid to UnRegistered Transporter)
Example: 3 Freight A/c -16000
To, Safexpress -16000
(Freight Booked)
Kindly Explain
Kindly suggested the Query:-
We are manufacturer and we paid Freight to GTA in Cash if Amount is under 10 K or through Bank. we want to know, is? RCM is applicable on Cash Payment of freight.
Example: 1
Freight A/c -6000
To, Cash- 6000
(Freight Paid to GST Registered Transporter)
Example: 2
Freight A/c -6000
To, Cash -6000
(Freight Paid to UnRegistered Transporter)
Example: 3 Freight A/c -16000
To, Safexpress -16000
(Freight Booked)
Kindly Explain
15 February 2018
The above three Transporter are GTA then RCM applicable irrespective of Payment mode...
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 February 2018
Thank You Sir,
One more
My Company Purchased Two Luxury Car in the name of Company for Directors uses- 1 BMW -60 Lac and another Toyota- 35 Lac. I want to know can we claim on ITC of GST over on this purchases? or what ? amount should be capitalized to depreciation. Please suggest.
One more
My Company Purchased Two Luxury Car in the name of Company for Directors uses- 1 BMW -60 Lac and another Toyota- 35 Lac. I want to know can we claim on ITC of GST over on this purchases? or what ? amount should be capitalized to depreciation. Please suggest.
16 February 2018
ITC not available for Purchased the Car...
You can capitalize the full values of the Cars... No more restrictions.
You can capitalize the full values of the Cars... No more restrictions.
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