RCM charges by IOC

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student
281 Points Posted on 05 November 2020
My client having petrol bunk (dealer of Indian Oil Corporation). They send good(oil & lubricants) through their GTA service. They filed their GST return now they demanding to file us GST return regarding transportation of RCM . Inorder to claim ITC by IOC. How to file and where to make gst entry regarding rcm in GST portal
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On 05 November 2020 at 14:32 Report
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Quick Summary
This discussion clarifies the Goods and Services Tax (GST) implications for petrol bunks dealing with Indian Oil Corporation (IOC) regarding Reverse Charge Mechanism (RCM) on GTA services. IOC uses GTA services to transport oil and lubricants to the petrol bunks. While the petrol bunk is filing their GST returns, IOC is demanding that the RCM charges related to this transportation be shown in the GSTR-1 return so that IOC can claim Input Tax Credit (ITC). The core confusion is about who is receiving the GTA service and who is paying the GTA, with the consensus being that IOC is receiving the freight service and paying for it.

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student
281 Points Posted on 05 November 2020
Yes they done. Now they demanding my client to show in GSTR 1. Inorder to Ioc claims ITC
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On 05 November 2020 at 19:17
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GST Practitioner
55067 Points Posted on 06 November 2020
It's bit confusing, plz clarify that who is taking services of GTA & who is paying to GTA.
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On 06 November 2020 at 00:45
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student
281 Points Posted on 06 November 2020
IOC taking freight service to dispatch their products to petrol bunk. Absolutely they paying
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On 06 November 2020 at 08:31
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2 Points Posted on 22 January 2023

Nice

 

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On 22 January 2023 at 20:47

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