Dear sir,
Can a GTA choose both options RCM 5% and FCM 12% with in same tax period?
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Tax liability on GTA
Replies (10)
Quick Summary
5% with no ITC and 12%with ITC , I think both under RCM just confirm .
Yes both can be claimed
But both tax rate are under RCM just confirm not FCM , same want to suggest in 1st reply .
No cannot do so for the same tax period. Either of the option to be selected at the beginning of FY
Two options cannot be selected.. you have to chose either of the one.... 12% with ITC under FCM.. 5% no itc under reverse charge only to specified recipents.
@ Tax officer
will you give me the reference of notification number wherein rate of tax (GTA) 12,% with FCM
will you give me the reference of notification number wherein rate of tax (GTA) 12,% with FCM
Notification no 20/2017 central tax (rate)
Notification no. 11/2017, Notification no. 12/2017
Thank you Sir
What about notification 13/2017 dated 28/6/17 , entry 1 . GTA/RCM.
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