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 ?
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RCM on GTA 2 scenarios F&Q
Replies (2)
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
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