Rcm on freight

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 August 2017 Dear Sir,
suppose freight paid Rs. 5500/- to individual truck owner who did not issued bilty. Under RCM what % rate gst would be payable.
Whether he can set offf this RCM liability against purchase itc?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

16 August 2017 No GST payable under RCM in case transporter not issued GTA Bill. It is exempt.

Querist : Anonymous

Querist : Anonymous (Querist)

16 August 2017 suppose itc on july purchase Rs. 10000/- and RCM payable on freight Rs. 500/-. Whether I can set off Rs. 500/- from Rs. 10000/- itc balance. In the month of July I have no sale.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

16 August 2017 You have to pay RCM 500 and carry over ITC 10500 to next month.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now