Dear sir,
Please guide rate of rcm either 5% or 12% on transportation service taken from GTA and other small transporters.
GTA RCM u/s 9(3) @ 5%
4 Replies
Deepak Gupta
(CA Student)
(15922 Points)
Replied 06 June 2019
GTA cannot take ITC in such case. But the recipient of service, who is paying RCM tax, can take input of the same.
Shivam RC
(Student)
(23683 Points)
Replied 06 June 2019
If service is taken from a GTA who have not opted to pay GST under FORWARD CHARGE, then the Registered Recipient needs to pay GST under REVERSE CHARGE @ 5% and take Input Tax Credit ( ITC ) thereon. The GTA will not be able to claim any ITC. The GTA will issue a Payment Voucher and you will need to make a Self Invoice.
However if the GTA is Registered, then the GTA needs to collect GST @ 12% from the recipient and deposit it with the Government and the benefit of ITC is also allowed.
Warm Regards.
However if the GTA is Registered, then the GTA needs to collect GST @ 12% from the recipient and deposit it with the Government and the benefit of ITC is also allowed.
Warm Regards.
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