Dear Sir,
i have received bill from TRANSPORTER who is unregistered UNDER GST.
he has not charged GST.
i have paid gst @ 5%. UNDER RCM and also availed ITC.is it CORRECT.
CAN I AVAIL ITC IF RCM IS PAID @ 5%.
kindly advise
NAMRATA (STUDENT) (84 Points)
25 June 2022Dear Sir,
i have received bill from TRANSPORTER who is unregistered UNDER GST.
he has not charged GST.
i have paid gst @ 5%. UNDER RCM and also availed ITC.is it CORRECT.
CAN I AVAIL ITC IF RCM IS PAID @ 5%.
kindly advise
prasad Nilugal
( GST Practitioner & Accounts )
(14165 Points)
Replied 25 June 2022
Rajendra Prasad
(Employee Private)
(1824 Points)
Replied 25 June 2022
Transporter can't avail any ITC, if he opted for pay GST @ 5%. But any recipient of transport service, paying GST under RCM can avail as ITC.
CA Puja Sharma
(Chartered Accountant)
(4874 Points)
Replied 25 June 2022
Yes, you can claim the ITC of RCM liability paid against the bill of the transporter.
The rate of tax of 5% under RCM is correct.
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