Is that possible any Transpoter make
his Bill previous year as a exempted.
and now,current year will be make
RCM continuetion.
2 Replies
Ashwin Kumar
(CA ipcc)
(449 Points)
Replied 20 September 2023
Previous year exempt and current year RCM..?Mr.Anirban there is no such thing like this. If you are a GTA service provider either you can inform the recipient to pay tax under RCM @ 5% or you can avail credit @ 12% under forward charge.However if you are registered and your recipient is b2c instead of b2b, then you can collect the levy @ 5 % and pay it yourself, however you can't avail credit in the same.
Suresh Kumar
(Account)
(403 Points)
Replied 20 September 2023
| Originally posted by : Ashwin Kumar | ||
 |
Previous year exempt and current year RCM..?Mr.Anirban there is no such thing like this. If you are a GTA service provider either you can inform the recipient to pay tax under RCM @ 5% or you can avail credit @ 12% under forward charge.However if you are registered and your recipient is b2c instead of b2b, then you can collect the levy @ 5 % and pay it yourself, however you can't avail credit in the same. |  |
It doesn't matter your recipient is registered or not. If GTA opts RCM than recipient has to pay GST @ 5% under RCM and if GTA opts FCM than GST has to pat @ 5% (without ITC) and 12 % (with ITC).
If GTA opts RCM and recipient is unregistered then NO GST.
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