ABHIJEET KUMAR (1 Points)
05 June 2023My friend is a dealer in animal feeds which is NIL rated supply. He will buy from a manufacturer (inter-state) and goods transport to his godown by registered gta . The transport charges will be around Rs.1,35,000 to Rs.1,40,000 per trip. So he needs to pay GST under RCM? If yes, whether he can claim ITC and get a refund on ITC later?
and also upply of fish medicine which came in gst taxable.
CA Mohd Firoz Khan
(Chartered Accountant)
(108 Points)
Replied 05 June 2023
Having regard to your case :
1- Your Friend need to pay GST under RCM (he can't set off with his available ITC)
2- No Refund if Tax is Exempted or Nil under Inverted duty structure
CAclubindia
