Please correct me if my understanding is wrong. Service provided by GTA is one the services on which RCM is applicable under GST. We receive service from VRL and TCI XPS, who are GTAs, so we are supposed to pay GST @ 5% of the total amount paid to them. For example, the consignment note issued by them bears an amount of Rs.100, we have to pay them Rs.100 and Rs.5 to the Government as GST under RCM. We can also take ITC of this GST paid in GSTR-2 return.
Please confirm if I'm right or correct me if I'm wrong. Thanks.
CAclubindia
