If Goods purchased @ 18% worth Rs 26000 per ton and freight paid 2200 per ton @ 5% Gst, goods will cost 26000 + 2200 = 28200, selling price will be more than 28200 then we have to pay GST @ 18% on 2200 freight inward,
Is there any way of billing so that gst on freight inward will ignore?
Whether GTA are liable to collect gst on their bilty?
Whether input tax credit will available on tax paid on GTA.?
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How to issue invoice so that gst on GTA will not part of cost?
Replies (3)
GTA is not allowed to collect GST as it is under RCM (Reverse Charge Mechanism).
ITC is allowed on GST paid on freight.
if buyer takes the responsibility of transporting goods the it may be possible to save gst on freight.itc on gta will be available if gta is paid by buyer.
A company is taking services from one transporter , whose office is situated in another state . Company is paying freight and liable under RCM . What should be the head , whether IGST or CGST/SGST. Please give your opinion
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