Rate of RCM payable on freight

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accountant
6 Points Posted on 29 May 2023
sir being a composition dealer we are paying tax @ 5% .. please advise me on rate of RCM payable on freight paid to unregistered person
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On 29 May 2023 at 19:03 Report
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Quick Summary
This discussion clarifies the Reverse Charge Mechanism (RCM) rate applicable to freight payments. For composition dealers paying unregistered persons or Goods Transport Agencies (GTAs), the RCM rate is 5%. This rate is specifically without the benefit of Input Tax Credit (ITC).

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243 Points Posted on 31 May 2023
Freight paid to GTA attracts 5% RCM.
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On 31 May 2023 at 13:21
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GST Practitioner
55067 Points Posted on 03 June 2023
It's 5% without ITC
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On 03 June 2023 at 23:26

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