Dear Sir / Mam,
Please Clarify me the Input Tax on GTA
Scenario 1
ABC company is a Trading company, sending their goods by transport to their customer, Transporter is a GTA and he gives the bill to ABC company Freight charge alone without tax.
Scenario 2
ABC company is a Trading company, sending their goods by transport to their customer, Transporter is a GTA and he gives the bill to ABC company Freight charge and Tax @ 5%
Scenario 3
ABC company is a Trading company, sending their goods by transport to their customer, Transporter is a GTA and he gives the bill to ABC company Freight charge and Tax @ 12%
Scenario 4
ABC company is a Trading company, sending their goods by transport to their customer, Transporter is not a GTA and he gives the bill to ABC company Freight charge alone without tax.
What is the Input tax Implications in the books of ABC Company in all 4 scenarios. Please clarify me.
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GST on GTA
Replies (11)
1. Rcm applicable @ 5% to ABC company and ITC can be claim
2. also 1
(but, GTA charge GST @ 5% is not correct).
3. ITC available to ABC company. rcm not applicable.
4. Gst not applicable (exempt)...
2. also 1
(but, GTA charge GST @ 5% is not correct).
3. ITC available to ABC company. rcm not applicable.
4. Gst not applicable (exempt)...
Dear Sir,
Few GTA Charges 5% on their freight Invoice, so in this case RCM attracts to ABC Company?
Few GTA Charges 5% on their freight Invoice, so in this case RCM attracts to ABC Company?
I think rcm applicable in this case.
If RCM applies @ 5%, ABC company can claim ITC for both the RCM as well 5% tax amount billed by the GTA, please correct me if I am wrong sir?
No... Only rcm amount can be claim as ITC...
Wait on further reply from other members...
Wait on further reply from other members...
Ok Sir, Thank you for the update Sir!
Dear Sir,
Few GTA Charges 5% on their freight Invoice, so in this case RCM attracts to ABC Company?
@ Krishna
pls check those GTA may charge 5% in invoice but won't collect the amount. the transporter must collect only the frieght amount. the invoice will contain the words that 5% charged to be paid by the recipient
Few GTA Charges 5% on their freight Invoice, so in this case RCM attracts to ABC Company?
@ Krishna
pls check those GTA may charge 5% in invoice but won't collect the amount. the transporter must collect only the frieght amount. the invoice will contain the words that 5% charged to be paid by the recipient
@ Sowjanya
Few GTA charges 5% GST and collect the money along with the freight amount, I need an explanation in this case.
Few GTA charges 5% GST and collect the money along with the freight amount, I need an explanation in this case.
Gta never charge gst amount, recipent payable by rcm 5 percent and itsc claim,
Thank you for the update, then should have an eye on every GTA bills
Yes. you are correct. the collection man by mere seeing the end amount may demand for that payment. he may not aware too. so we have to be conscious
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