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RCM Against GTA
dear all expert actually my question is that how to RCM Claim against GTA and please tell me about process I am so confused some expert told me about RCM Against GTA 5 % and some told me 18% but please clear my question
Replies (3)
IT IS SIMPLE WHEN U HAVE A FREIGHT CHARGES U HAVE TO PAY RCM AT 5% AND WHEN U PURCHASE A MATERIAL LIKE STEEL + FREIGHT CHARGES WHICH IS TAXABLE AT 18% DUE TO COMPOSITE SUPPLY
transport of goods by road by GTA- 2 options for GTA- either charge 12% on invoice and person who pay freight will make payment to GTA and take input credit. or don't charge tax on invoice, person who pay freight will pay 5% under reverse charge and take input credit. only these 2 provisions for GTA
It's 5% RCM on inward supply from GTA.
Report RCM payable in table 3.1,row (d) & RCM receivable (Input) in table 4, Row (A)(3)
Report RCM payable in table 3.1,row (d) & RCM receivable (Input) in table 4, Row (A)(3)
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