hello everyone,
i have 2 questions
1)if a transporter is registered under gst and issued tax invoice at 5% , bill is shown 2b at 5% also so it means it is not GTA transaction and rcm is not applicable further we can take itc of 5% gst, am i right ?
2) if a transporter issues consignee note , so rcm is applicable so whether we have option of selecting gst rate like - 5% - for no itc and 12% to take itc? or it is like we have to pay 5% under rcm and can also take itc ?
Menu
RCM on GTA 2 scenarios F&Q
Replies (2)
Quick Summary
1. yes
2. rcm applicable at 5%.. pay under rcm and take itc.
2. rcm applicable at 5%.. pay under rcm and take itc.
1) is right, But
2)If you want take ITC you must pay RCM at 12%,other wise you have to pay RCM at 5 % it's you could not take ITC
2)If you want take ITC you must pay RCM at 12%,other wise you have to pay RCM at 5 % it's you could not take ITC
Recent Topics :
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
Related Topics :
CAclubindia
