11 August 2018
A manufacture having composite Scheme registration (1% Rate Applicable) make supply two types of goods-A} one is 18% B} other is NIL or Exempted Total supply (Sale Figure/Turnover) @18% is Rs.3,00,000/- and NIL or Exempted is Rs.5,00,000/- The manufacturer send the materials (Finished product) to Client through GTA service. The GTA service provider issued invoice without GST.
Now question is- 1. What is the total Taxable Amount Rs 3,00,000/- or Rs 8,00,000/-( 300000+500000).
2. Should the manufacture paid GST @5% or 12% on RCM basic for received of GTA service? 3. Another question is whether he can avail credit if he has paid GST underRCM?
11 August 2018
Some Expert comment that No ITC is available (GTA service)as per section 16 CGST Act, to Taxpayer Registered (Composite Dealer) u/s 10 of CGST Ac, hence Composite Dealer can not avail ITC on the GST deposited under RCM------sir what is the exact rule? Sir one more question if composite dealer purchase from URD and take service from GTA then should he pay tax on RCM basic? and should he take ITC ?
CAclubindia
