our gta is raising invoice at 5 percent under forward charge. we are paying 5 percent and claiming itc.
what is the consequences if receipent pays gst in 5 percent to gta directly instead of rcm and takes credit
As per my knowledge,
as per Notification No.13/2017-CT Rate, any person registered under GST has to pay GST under RCM @ 5%, if the GTA has not given Tax Invoice with GST 12%.
If not paid, further at the time of audit, department may insist to pay GST under RCM @ 5%, and further availing Input of the same may be in trouble.
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