ITC available to Receipent of GTA service

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73 Points Posted on 15 May 2021
we are paying RCM on GTA services @ 5% on Raw materials and trading goods we are selling goods and paying GST @ 5% we are eligibile for ITC for GST paid on GTA ?
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On 15 May 2021 at 18:20 Report
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Quick Summary
If you are paying GST at 5% under the Reverse Charge Mechanism (RCM) for Goods Transport Agency (GTA) services, you are eligible to claim the Input Tax Credit (ITC) for GST paid on raw materials and trading goods. The restriction on claiming ITC applies to the supplier, not the recipient of the service.

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GST Consultant
15986 Points Posted on 15 May 2021
Yes. It is eligible
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On 15 May 2021 at 18:57
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Chartered Accountant
24588 Points Posted on 15 May 2021
Yes you can claim ITC
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On 15 May 2021 at 19:22
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Chartered Accountant in Practice
1260 Points Posted on 15 May 2021
Yes. you can avail ITC. Restriction is for the supplier and you are not the supplier but recipient.
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On 15 May 2021 at 23:17
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Chartered Accountant
24588 Points Posted on 16 May 2021
Agreed
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On 16 May 2021 at 06:07

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