we r registered GTA service Provider. we r not charging GST in our bill. The GST paid by service receiver vide RCM.
we purchase Truck for business purpose. Should we take ITC in one shot or take it partly.
sir understand me when we take ITC on capital goods at a time or patly
6 Replies
Ankit Rikhi
(570 Points)
Replied 23 January 2019
You can claim ITC in one shot,if the bill raise by a company to provide You.
Shivam RC
(Student)
(23683 Points)
Replied 23 January 2019
Are you Registered under GST ???
If not, then how can you claim ITC
If not, then how can you claim ITC
pritesh
(CA Final student)
(7101 Points)
Replied 23 January 2019
Itc is not available in your case.. because you providing excempted service on that tax need to be paid by recipient.
saurabh sawlani
(Self employed )
(2193 Points)
Replied 23 January 2019
If a person is exclusively supplying goods or services, the total tax on which is required to be paid by the recipient under reverse charge, is not required to obtain registration even if his aggregate turnover exceeds Rs. 20 lakhs.
Notification no.11/2017 prescribes a rate of 2.5% CGST for GTA services with the condition that ITC used in supplying the services has not been taken. If the ITC is to be availed then GTA service provider has to charge 6% central tax on all services provided by it.
Recipient of GTA services paying reverse charge is entitled to take ITC provided it is used in the course of furtherance of business. Where the GTA has opted to pay GST Forward charge basis, the recipient is eligible for ITC.
If the GTA has not paid central tax @ 6% in the case of services to certain categories then the recipients have to pay GST on reverse charge basis.
Notification no.11/2017 prescribes a rate of 2.5% CGST for GTA services with the condition that ITC used in supplying the services has not been taken. If the ITC is to be availed then GTA service provider has to charge 6% central tax on all services provided by it.
Recipient of GTA services paying reverse charge is entitled to take ITC provided it is used in the course of furtherance of business. Where the GTA has opted to pay GST Forward charge basis, the recipient is eligible for ITC.
If the GTA has not paid central tax @ 6% in the case of services to certain categories then the recipients have to pay GST on reverse charge basis.
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