if i paid gst on reverse charge,can i tak credit this if i supply wholly exmpted goods and my registration are reguler tax payer,
12 Replies
Rakesh Bandal
(Self Employed and Agriculture)
(1349 Points)
Replied 26 August 2017
You can take credit of challan paid under reverse charge only against reverse charge liability
sandeep saini
(40 Points)
Replied 26 August 2017
if i supply wholly exmpted goods can i take reverse charge tax paid by chaalan ,as a credit
Rakesh Bandal
(Self Employed and Agriculture)
(1349 Points)
Replied 26 August 2017
@ Prabhjot Singhji
Reverse charge is a concept as it was in service tax
where receiver of service have to pay GST as per rates mentioned in Act to the Goverment
such reverse charge is to be paid by registered person if he receive any supply (i.e. Goods or services) from any unregistered person for furtherance of business
Rakesh Bandal
(Self Employed and Agriculture)
(1349 Points)
Replied 26 August 2017
@ Sandeep Sainiji
Credit of reverse charge will be allocated to your reverse charge lability
sweety Sharma
(328 Points)
Replied 26 August 2017
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ramkumarsingh8591@gmail.com
(66 Points)
Replied 26 August 2017
a contractor purchases steel, cement, bricks,engages labour and construct auditorium building which is used for commercial purposes by prasar Bharti an autonomous body /corporation.
prasar Bharti asks contractor to quote rate excluding taxes of GST paid on materials.works contract @ 18% is paid by prasar Bharti to GST department.can prasar Bharti gets ITC of @ 18% . again prasar Bharti do commercial business with the said building.
if prasar Bharti uses building as an office then ITC is available with prasar Bharti.
if not then we should ask contractor to quote rate taking into account his gst paid on materials and prasarbharti will pay 18% gst as a contract tax,and contractor will get ITC on materials purchased.
prasar Bharti asks contractor to quote rate excluding taxes of GST paid on materials.works contract @ 18% is paid by prasar Bharti to GST department.can prasar Bharti gets ITC of @ 18% . again prasar Bharti do commercial business with the said building.
if prasar Bharti uses building as an office then ITC is available with prasar Bharti.
if not then we should ask contractor to quote rate taking into account his gst paid on materials and prasarbharti will pay 18% gst as a contract tax,and contractor will get ITC on materials purchased.
samadhan sahebrao patil
(Accountant)
(48 Points)
Replied 29 August 2017
RCM PAYABLE / RCM BILL WHERE TO SHOW IN GSTR 1?
Mahesh Shaha
(303 Points)
Replied 17 September 2017
Pl. make note this forum is for issue related taxes not business adv.
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