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Credit of ITC of Reverse Charge Tax Paid

26 August 2017

if i paid gst on reverse charge,can i tak credit this if i supply wholly exmpted goods and my registration are reguler tax payer,

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12 Replies

Rakesh Bandal (Self Employed and Agriculture) (1349 Points)
Replied 26 August 2017

You can take credit of challan paid under reverse charge only against reverse charge liability

sandeep saini (40 Points)
Replied 26 August 2017

if i supply wholly exmpted goods can i take reverse charge tax paid by chaalan ,as a credit

Prabhjot Singh (4 Points)
Replied 26 August 2017

what is reverse charge

Prabhjot Singh (4 Points)
Replied 26 August 2017

what is reverse charge

sandeep saini (40 Points)
Replied 26 August 2017

gta reverse charge

sandeep saini (40 Points)
Replied 26 August 2017

GTA SERVICE reverse charge

Rakesh Bandal (Self Employed and Agriculture) (1349 Points)
Replied 26 August 2017

@ Prabhjot Singhji

Reverse charge is a concept as it was in service tax

where receiver of service have to pay GST as per rates mentioned in Act to the Goverment

such reverse charge is to be paid by registered person if he receive any supply (i.e. Goods or services) from any unregistered person for furtherance of business

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Rakesh Bandal (Self Employed and Agriculture) (1349 Points)
Replied 26 August 2017

@ Sandeep Sainiji

Credit of reverse charge will be allocated to your reverse charge lability

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Replied 26 August 2017

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ramkumarsingh8591@gmail.com (66 Points)
Replied 26 August 2017

a contractor purchases steel, cement, bricks,engages labour and construct auditorium building which is used for commercial purposes by prasar Bharti an autonomous body /corporation.
prasar Bharti asks contractor to quote rate excluding taxes of GST paid on materials.works contract @ 18% is paid by prasar Bharti to GST department.can prasar Bharti gets ITC of @ 18% . again prasar Bharti do commercial business with the said building.
if prasar Bharti uses building as an office then ITC is available with prasar Bharti.
if not then we should ask contractor to quote rate taking into account his gst paid on materials and prasarbharti will pay 18% gst as a contract tax,and contractor will get ITC on materials purchased.