15 September 2017
Dear Sir, Some of our transporters raised bill to us without GST charged means they are not Registered, Now i want to know accounting treatment in our books of accounts. means RCM is applicable or not? what will the rate of RCM?
15 September 2017
Even if they are registered and does not raise an taxable invoice you have to pay RCM if they qualify as GTA as explained by CBEC in its recent circular. since GTA is notified for RCM under section 9(3) irrespective of whether they are registered or not. GTA as per CBEC means a goods transport agency which issues consignment note and which is engaged in transport of goods on road. By consignment note we generally mean builty.
CAclubindia
