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itc credit to GTA
I'm into transport business a GTA. I hire trucks from market & send the material as per the delivery schedule . I Bill to my client whose material I delivered. the client pay the tax under RCM. the truck supplier Bill to me for the truck I took on hire from him . truck owners are registered as well as unregistered. my query is wether I need to pay their tax under RCM or not ? further wether any ITC is available to me on such payments. Please clarify . Thanks
Replies (5)
yes you have to pay gst under rcm without itc
so in both the cases I have to bear the tax liability . first as a service provider my liability will be paid by service receiver . secondly as a service receiver I have to pay liability of another service provider .. ultimately my loss will be 10% without any ITC available...Please clarify. Thanks
you can claim as itc what you have paid indrr rcm
any section or notification from the act ??
A company is taking services from one transporter , whose office is situated in another state . Company is paying freight and liable under RCM . What should be the head , whether IGST or CGST/SGST. Please give your opinion
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