What is rate of RCM LIABILTY FOR A REGULAR TAXPAYER SUPPLYING FULLY TAXABLE GOODS AND SERVICES...
IS IT 5% OR 12% WITH FULL ITC AVAILABLE TO TAXPAYER ????
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RCM on freight 5% or 12% ???
Replies (3)
under RCM, there is only one rate 5%. 12% is for transporter if chose forward charge. If Transporter charge 12%, recipient no need to pay in RCM & take full ITC of 12% paid to Transporter. if Transporter don't charge than recipient pay 5% in RCM & take full ITC.
Pradeepji Goyal is correct. On freight there will be only 5%
under RCM 5%. Less cash flow as well.
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