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RCM on transporter

Nishant (Mgr in Accounts)     22 September 2020

Mgr in Accounts 
 1 likes  59 points

| My Other Post

With reference to the assessment of GST for FY 2017-18, the assessing officer is asking to pay 18% GST under RCM along with the interest on transport charges paid. (The said amount is borne by us and not charged to the client) Please confirm if it is 5% or any other rate at which it is payable.

If we pay 5% or so, can we claim it as GST credit?

Secondly, if we pay the RCM for the FY 2017-18 now, shall I get the credit of the same now or I need to write it off.

Shweta Gupta (Assistant Manager)     22 September 2020

Shweta Gupta
Assistant Manager 
 9 likes  215 points

View Profile | My Other Post

RCM on GTA services is taxable at the rate of 5 percent and no you can not claim ITC because time period for availing ITC for FY 2017-18 was due date of GSTR-3B of September 18.

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