I AM A REGISTERED TRADER IN DELHI (WHOLESALER) DEALING IN ONLY ONE TAX SLAB ITEM @ 18%, I BUY MY GOODS FROM OTHER STATES LIKE JHARKHAND AND HARYANA. THE TRANPORTER ISSUES BUILTY TO ME THAT DOES NOT CHARGE GST. MY QUERIES ARE : -
1. AM I SUPPOSED TO DEPOSIT RCM ON CARTAGE INWARD ? IF YES, THEN AT WHAT % AND UNDER WHAT HEAD (IGST OR SGST-CGST)? 2. WHAT ENTRIES DO WE PASS FOR ACCOUNTING PURPOSE TO RECORD THIS ? 3. WHEN CAN I TAKE ITC BENEFIT FOR RCM DEPOSITED ?
03 October 2017
The GTA is a notified service for following RCM. Therefore, in view of the fact that consignment note is there and no GST has been charged from you, pl pay the GST @5% IGST on the value of the cartage and take credit any time after payment.
03 October 2017
Thanks a lot for the reply. It's IGST because cartage inward is for interstate purchase or GTA RCM is always deposited under IGST. Just for info - My transporter is from Delhi itself and prints GST no. on builty.
Also can someone help with rhe entries to be passed to record this on busy. I use busy for e returns it would automatically pick it if entries passed in busy. Thanks is advance already.
CAclubindia
