Dear Sir / Mam,
Please Clarify me the Input Tax on GTA
Scenario 1
ABC company is a Trading company, sending their goods by transport to their customer, Transporter is a GTA and he gives the bill to ABC company Freight charge alone without tax.
Scenario 2
ABC company is a Trading company, sending their goods by transport to their customer, Transporter is a GTA and he gives the bill to ABC company Freight charge and Tax @ 5%
Scenario 3
ABC company is a Trading company, sending their goods by transport to their customer, Transporter is a GTA and he gives the bill to ABC company Freight charge and Tax @ 12%
Scenario 4
ABC company is a Trading company, sending their goods by transport to their customer, Transporter is not a GTA and he gives the bill to ABC company Freight charge alone without tax.
What is the Input tax Implications in the books of ABC Company in all 4 scenarios. Please clarify me.
1. Rcm applicable @ 5% to ABC company and ITC can be claim
2. also 1
(but, GTA charge GST @ 5% is not correct).
3. ITC available to ABC company. rcm not applicable.
4. Gst not applicable (exempt)...
CAclubindia
