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