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RCM on exempted supply
Sir's I am manufacturer of a exempted product i.e. pashu aahar while my input goods is taxable i.e. hulles. Pls guide me RCM will be applicable on GTA services or not.
Replies (2)
Quick Summary
If your GTA charge 12% GST on Invoice then RCM not applicable
otherwise you have to pay GST under RCM @ 5% and no ITC will be allowed attributable to exempt supply
otherwise you have to pay GST under RCM @ 5% and no ITC will be allowed attributable to exempt supply
| Originally posted by : Gaurav Dixit | ||
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Sir's I am manufacturer of a exempted product i.e. pashu aahar while my input goods is taxable i.e. hulles. Pls guide me RCM will be applicable on GTA services or not. |  |
RCM applicable @ 5% Pay GST and Charge as Expenses in Profit Loss account
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