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Input Credit on GST

chandra (accountant) (55 Points)

03 February 2018

transporter given invoice to me.(as RCM)
i have paid gst directly to government.
now can i take same gst as input

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5 Replies

Kavi Sharma (42 Points)
Replied 03 February 2018

tax payment for RCM has been deferred for some time... 2nd thing you have to see whether it S 5% bill or 12%. ITC is available only on 12% bill...

1 Like

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sujith kumar dasa (banglore) (1496 Points)
Replied 03 February 2018

Dear Chandra,

Yes you are liable for GST under RCM @ 5% and you are eligible to take input credit of same if it is used in course pf business.

1 Like

RAJA P M ("Do the Right Thing...!!!") (128106 Points)
Replied 03 February 2018

If you are registered under GST then Pay tax under RCM basis and You can avail the benefit of ITC...

1 Like

Mondira Saha (GST) (3925 Points)
Replied 03 February 2018

you can avail ITC ... not matter its 5% or 12% ...
cause 12% invoice trnasport charge in RAIL freight ... you can avail ITC

2 Like

felix thomas (student) (159 Points)
Replied 04 February 2018

GTA may have charged you 5 or 12 tax on the invoice. If they have charged you 12 , you can take credit of the same. However if they have charged you 5 then you are liable to pay tax on reverse charge basis, for which you can take the credit and you are also eligible to take credit on the 5 tax charged by him on forward charge basis.