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can GTA opt to pay tax @ 5% under NORMAL CHARGE?!
Replies (3)
under the Forward charge mechanism gst option to pay transporters only @ 12%
if not paid by service provider ,receipt has to pay GST under RCM method @ 5%
if not paid by service provider ,receipt has to pay GST under RCM method @ 5%
In terms of Notification 22/2017 GTA has option to pay 12% on FC (With ITC ) , but same to be opt in the beginning of FY.
Else the GTA is liable to pay @ 5% only when Recepient is not liable to do RCM .
For More clarification Refer Notification 13, 12, 22, 32/2017 all are CT (R)
Else the GTA is liable to pay @ 5% only when Recepient is not liable to do RCM .
For More clarification Refer Notification 13, 12, 22, 32/2017 all are CT (R)
yes. However by opting 5% under normal/forward charge GTA will not be entitled to avail ITC.
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