Rcm

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 February 2018 Dear Expert,
Kindly suggested the Query:-
We are manufacturer and we paid Freight to GTA in Cash if Amount is under 10 K or through Bank. we want to know, is? RCM is applicable on Cash Payment of freight.
Example: 1
Freight A/c -6000
To, Cash- 6000
(Freight Paid to GST Registered Transporter)

Example: 2
Freight A/c -6000
To, Cash -6000
(Freight Paid to UnRegistered Transporter)

Example: 3 Freight A/c -16000
To, Safexpress -16000
(Freight Booked)

Kindly Explain

RAJA P M

RAJA P M (Expert)
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15 February 2018 The above three Transporter are GTA then RCM applicable irrespective of Payment mode...

Querist : Anonymous

Querist : Anonymous (Querist)

16 February 2018 Thank You Sir,

One more
My Company Purchased Two Luxury Car in the name of Company for Directors uses- 1 BMW -60 Lac and another Toyota- 35 Lac. I want to know can we claim on ITC of GST over on this purchases? or what ? amount should be capitalized to depreciation. Please suggest.

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RAJA P M

RAJA P M (Expert)
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16 February 2018 ITC not available for Purchased the Car...
You can capitalize the full values of the Cars... No more restrictions.