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.?
GTA is not allowed to collect GST as it is under RCM (Reverse Charge Mechanism).
ITC is allowed on GST paid on freight.
CAclubindia
