17 August 2017
Hello all
I have some queries regarding entry for transportation charges incurred on purchase of raw material from out of state.
1. Under which situation reverse charge mechanism should be applicable to transportation charges.
2. Under which account which make payment of gst (i.e under service tax we made payment with reference to pan no of transporter) if transporter doesn't have gst registration number.
3. What should be entry for transportation charges and gst payment
Thanks in advance
18 August 2017
Under which situation reverse charge mechanism should be applicable to transportation charges :- Reverse charge is applicable if the it is classifiable as GTA service and the recipient is one out of : (a) any factory registered under or governed by the Factories Act, 1948; (b) any society registered under the Societies Registration Act, 1860 or under any other law for the time being in force in (c) any co-operative society established by or under any law; (d) any person registered under CGST/SGST/UTGST Act; (e) any body corporate established, by or under any law; or (f) any partnership firm whether registered or not under any law including association of persons. (g) Casual taxable person
18 August 2017
2. Under which account which make payment of gst (i.e under service tax we made payment with reference to pan no of transporter) if transporter doesn't have gst registration number ---Nothing of this sort is required to pay RCM
18 August 2017
3. What should be entry for transportation charges and gst payment Thanks in advance ---Please continue making the same entry by replacing Service tax and cess by CGST & SGST or IGST as may be applicable N Jain group.blr@gmail.com
CAclubindia
