Sir,
We have got service from transporter in Financial year 2020-21. 15 to 20 transporter invoices value in whole year approximately RS.40 Lac's So RCM is eligible or note if yes how much
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Reverse charges
Replies (6)
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GTA is under RCM basis
Yes, GTA service is under RCM list, there for it is eligible for the payment under RCM @ 5% and you can claim the same as input credit.
RCM need to be paid in cash only.
RCM need to be paid in cash only.
Yes, unless the gst has been paid by transporter on reverse charge, the same needs to be paid by way of RCM
If GTA is pay GST @ 5℅ to Govt. then who is eligible to take credit
GTA has to pay 12% on forward charge basis not 5%
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