(First Note That we are Register Dealer in GST Act ) - In Month of August We have Purchase a Machine form Register Dealer for Rs. 20,46,120.00 (Including IGST 18%- IGST Come for Rs. 3,08,125.00) (Not Including any Transporatation Charge) and Transporter (come under GTA) Submit his Invoice to us for Rs. 85120.00 (NA Tax Charge)
Now My Question Is
1) Can we Full Utlised IGST Tax for Rs. 308125.00 (because Machine is a CAPITAL GOOD ITEM ) This Year or SO MANY YEAR............. Explain with details
2) We are Buyers so we know that under GST act RCM applicable for GTA Service Value , Please explain Which tax rate applicable for GTA in RCM Purpose & Can we taken RCM Tax for Input Tax Credit in the month of August2017
3) TDS is applicable, if Yes then What rate come
CAclubindia
