rcm input
Neeraj Joshi (17 Points)
23 May 2018
If we charge 5% rate in transportation charges under rcm then input is available?
4 Replies
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 23 May 2018
If charged gst @ 5%, then ITC not available.
Ravi SADhiyan
(Practice)
(4510 Points)
Replied 23 May 2018
| Originally posted by : Neeraj Joshi | ||
 |
If we charge 5% rate in transportation charges under rcm then input is available? |  |
Kindly Clear that You are Provider of Service or Receiver
If You are Receiver and You are liable to pay GST under RCM
Than you are elegiable to take ITC
CA Jyoti singh
(Chartered Accountant)
(246 Points)
Replied 23 May 2018
Dear Mr Neeraj Joshi
In case you are a service provider you can claim the ITC of inputs if you are paying tax at the rate of 12%. No ITC can be claimed on input if you are charging Gst at the rate if 5%.
Further, in case you are a service recipient you can pay GST on RCM at the rate of 5% and claim the ITC for the same in the following month.
In case you are a service provider you can claim the ITC of inputs if you are paying tax at the rate of 12%. No ITC can be claimed on input if you are charging Gst at the rate if 5%.
Further, in case you are a service recipient you can pay GST on RCM at the rate of 5% and claim the ITC for the same in the following month.
Recent Topics
- LTCG on Foreign RSU Stock sale
- Secure VPN Solution for Freelancers Working with I
- Amount withdrawn from capital gain account scheme
- TDS RETURN REJECTED with Reason Line no 2 –
- Issue in e_filing of IT return
- New India Coop Bank Frozen Account
- GST Registration for export of services under sec2
- Exemption Available or not under new tax regime
- Loss on F & O
- FCNR DEPOSIT INTEREST EARNED REPORTING IN ITR2
Related Threads
Trending Online Classes
CAclubindia
