Rcm on gta services for interstate supply

This query is : Open

Vaibhav Gupta (Querist)
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03 October 2017 HELLO,

I AM A REGISTERED TRADER IN DELHI (WHOLESALER) DEALING IN ONLY ONE TAX SLAB ITEM @ 18%, I BUY MY GOODS FROM OTHER STATES LIKE JHARKHAND AND HARYANA. THE TRANPORTER ISSUES BUILTY TO ME THAT DOES NOT CHARGE GST. MY QUERIES ARE : -

1. AM I SUPPOSED TO DEPOSIT RCM ON CARTAGE INWARD ? IF YES, THEN AT WHAT % AND UNDER WHAT HEAD (IGST OR SGST-CGST)?
2. WHAT ENTRIES DO WE PASS FOR ACCOUNTING PURPOSE TO RECORD THIS ?
3. WHEN CAN I TAKE ITC BENEFIT FOR RCM DEPOSITED ?

THANKS YOU

RAMESH KUMAR SINGLA

RAMESH KUMAR SINGLA (Expert)
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03 October 2017 The GTA is a notified service for following RCM. Therefore, in view of the fact that consignment note is there and no GST has been charged from you, pl pay the GST @5% IGST on the value of the cartage and take credit any time after payment.

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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03 October 2017 1. Yes you have to pay IGST@5% 3. Claim ITC in same month.

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Vaibhav Gupta

Vaibhav Gupta (Querist)
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03 October 2017 Thanks a lot for the reply.
It's IGST because cartage inward is for interstate purchase or GTA RCM is always deposited under IGST. Just for info - My transporter is from Delhi itself and prints GST no. on builty.

Also can someone help with rhe entries to be passed to record this on busy. I use busy for e returns it would automatically pick it if entries passed in busy. Thanks is advance already.