Regarding GST for transport co

Dear Sir/ Mam,

I am working in Pvt Ltd. company. Its Transport co. so i have put GST in RCM for my debtors in GSTR 1. But we are also GST bill for Truck Repair, Tire Purchase, Stationery purchase. Cartridge refilling, Printing Bill Book, Delevery challan etc. Can we get this Benefit in GST tax as we have shown only in RCM,

Pl. Advice what do and if i can get this benefit than Pl. advise me the Process to get benefit.

Thanks & Regards,

Rajeev M

 

Replies (4)
Quick Summary
A transport company is seeking clarification on GST implications, specifically regarding Reverse Charge Mechanism (RCM) for debtors and claiming Input Tax Credit (ITC) on expenses like truck repairs, tyre purchases, and stationery. The advice given suggests that since the company is providing taxable services, they should be collecting GST from their customers. If GST is collected at 5%, they can claim ITC on related business expenses. If collected at 12%, they can claim all ITC. RCM is typically applicable when the supplier is not a corporate entity and the buyer is. The company needs to ensure they are correctly charging GST to their clients to benefit from ITC.

You can't get benefit

Dear sir, why, as we have paid Gst on bill received. Do it effect on financial. 

You are not suppling Taxable Services
that why you will not able to claim ITC on it

RCM applicable if supplier is other than corporate  and buyer is Corporate. since you as supplier is corporate you have to collect GST and RCM will not applicable for all your buyer(receiver) irrespective of their being corporate or not.

If you collect GST @ 5% you can avail ITC on supplies and services from same line of business

if you collect GST @ 12% you can avail all ITC 

hope am clear and request experts to correct me if wrong

 

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