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.
CAclubindia
