ITC AVAILABILITY FOR GTA COMPANY
This query is : Resolved
22 March 2022
Dear Sir,
Please provide solution to a problem, A GTA Company who Currently operate under 100% RCM, Whether it can enter into forward charge agreement or contract in which it issue Taxable invoice and can take ITC on Heavy Vehicle Purchased?
If can not than what other option available to company to take ITC on Vehicle Purchased for Transporting of Goods in the course or furtherance of Bussiness?
Thanking You,
Please provide solution to a problem, A GTA Company who Currently operate under 100% RCM, Whether it can enter into forward charge agreement or contract in which it issue Taxable invoice and can take ITC on Heavy Vehicle Purchased?
If can not than what other option available to company to take ITC on Vehicle Purchased for Transporting of Goods in the course or furtherance of Bussiness?
Thanking You,
22 March 2022
100% RCM no ITC can be taken.
If you want to take ITC charge 12% GST forward charge 100%.
If you want to take ITC charge 12% GST forward charge 100%.
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23 March 2022
Thank for the Reply sir, I want to Know whether the GTA can take ITC on vehicle purchased on oct 2021, at that time it was covered under 100% RCM, but now in march it wants to charge 12% GST, Whether it can take ITC of oct 2021 on vehicle Purchase?
23 March 2022
Not a good Idea you will loose your customers in view of 12% GST.
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23 March 2022
sir whether the company can take itc of october 2021 month while filing march 2022 GST Return on vehicle purchased at the time when it was covered under 100% RCM, NOW In March it want to make forward charge willing to continue to take eligible ITC credit in future, whether it can do so?
Please sir suggest solution to the problem.
Please sir suggest solution to the problem.
24 March 2022
No ITC is allowed during 100% RCM period.
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