GST on Freight

If transporter is registered in other state then IGST @ 5% with ITC.

If transporter registered in your state then CGST @ 2.5% SGST @ 2.5% with ITC.

Firm has to recover GST under RCM from GTA @ 5%, firm will get ITC.

GST payable at 5% on GTA service will be payable by the service receiver under RCM and the input credit will also be taken only by the service receiver.

If Service provider registered in other state than IGST @ 5%

If Service provider registered in same state than CGST and SGST @ 2.5% each...

But I think there is exemptin limit of Rs. 750 or 1500..... Can someone eloborate on that? Is that limit per day or pay transport bill?

It depends on the place of supply of freight service. If Transporter is registered within state then CGST (2.5%) & SGST (2.5%) will be applicable otherwise IGST will be applicable at the rate of 5% (IGST)  and you will be eligible to take Input tax credit on the same paid through Electronic Cash Ledger

Below is NIL rate.

Services provided by a goods transport agency, by way of transport in a goods carriage of -
(a) agricultural produce;
(b) goods, where consideration charged for the transportation of goods on a consignment transported
in a single carriage does not exceed one thousand five hundred rupees;
(c) goods, where consideration charged for transportation of all such goods for a single consignee
does not exceed rupees seven hundred and fifty;
(d) milk, salt and food grain including flour, pulses and rice;
(e) organic manure;
(f) newspaper or magazines registered with the Registrar of Newspapers;
(g) relief materials meant for victims of natural or man-made disasters, calamities, accidents or mishap;
or
(h) defence or military equipments.