A manufacturing concern registered under GST Law decides to opt for GTA service (forward charge 12%) along with manufacturing of certain goods, in between a financial year.
Press release dated 5/8/17 states, a gta has to exercise option of 5% RCM or 12% Forward Charge, at the beginning of FY. Is the above stated case legal, considering the PR.
2 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 11 March 2019
Yes it's legal & Correct ,As per Notification 22/2017 CT (r) if you have excercise the scheme of Charging 12% GST on forward charge can avail ITC on your inward supply & Recepient is not liable do RCM .
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