RCM on Freight Applicable or Not @ 5%
Input Allowed in same month
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Regarding RCM
Replies (4)
Yes RCM is applicable . RCM on Services of GTA cover under Section 9(3) was never been withdrawn .
yes can avail input on RCM deposited in same month
yes can avail input on RCM deposited in same month
applicable.. and the rate is 5%
service recipient can take input credit
Yes. RCM is applicable u/s 9(3).
However, input cannot be availed in the same month as inputs under RCM can only be availed under paying tax under RCM (i.e when liability is offset). Therefore, input can be taken only in the next month.
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