Hello.
Let's take a case where I have booked an airfare ticket through a travel agent who acts as a Pure Agent under GST.
Travel agent issues an invoice including Air fare, K3 charges (GST on air fare), his service charge and GST thereupon as separate line items.
How to avail ITC on air fare and service charge charged by Pure agent?
How to account for this invoice in the books of account to fetch GST ITC details in the name of two parties, viz. Airlines and Travel agent correctly?
Please consider that since, a travel agent acts as a pure agent, entire costs including air fare, service charge and GST thereupon needs to be paid to Travel agent only.
ITC on Airfare if invoice booked through Travel agent
Replies (1)
1. you should book air ticket as actual received from agent as supporting documents and take itc credit
2. after that pass expenses amount though jv to agent account
3. book agent invoice for diff amount and take itc
4. make payment to the agent.
2. after that pass expenses amount though jv to agent account
3. book agent invoice for diff amount and take itc
4. make payment to the agent.
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
