Hi.,
The freight mentioned in Bill of entry., can u confirm is it eligilbe to pay the GST against the RCM
Menu
Freight charges in bill of entry - gst rcm
Replies (7)
Yes the recipient must pay GST under reverse charge i. e 2.5% cgst 2.5% sgst
whether this amt paid gst or 2.5% each can be taken ITC
Yes this can be taken as itc
Dear sir
in someone's query I came to know 5% we can't take ITC we can take ITC on 12% which is right sir please clarrify
in someone's query I came to know 5% we can't take ITC we can take ITC on 12% which is right sir please clarrify
Supply of GTA services alone is covered under RCM.
GTA service provider has an option to collect tax @ 12%. If GST is not charged in the invoice, then only the tax liability shifts to the recipient of GTA services.
Tax rate applicable in such case is 5% (if GTA service provider not claimed ITC), 12% (if he claimed ITC).
Therefore, the restriction of claiming ITC is for GTA service provider not for the recipient of such service.
f Service Receiver pays GST under RCM
Service receiver can always avail ITC on GST paid under RCM.
Service receiver can always avail ITC on GST paid under RCM.
Freight charges shown in the Bill of Entry attracts IGST.When an Importer pays customs duty he pays IGST along with Customs duty ie IGST is included in the duty structure of Customs duty.The IGST is payable on agreegate of Assesseble value ie CIF value+ Basic Customs duty+Social Welfare Surcharge. The importer afterwards claim IGST benefit as per GST Act. So in my view separate GST is reqiured to be paid like inland freight by RCM.
Recent Threads
- Commercial property rent query
- What is the Accounting Treatment for the CAR buy b
- Intraday loss & FNO loss - small amount
- Query on carrying documents in case of e-way Bill
- 194C Income can be claimed under Other sources?
- ITR 2 filing error after validation
- ITR filing STCG LTCG
- TDS deducted against PF withdrawal
- VRS / Severance Pay full exemption u/s 89 ( 10E fo
- Sponsorship fees GST
Related Threads
CAclubindia
