ITC for GTA 5% under RCM
Page no : 2
Manjit Sahdev
(AGM Finance)
(24 Points)
Replied 20 November 2018
DearSir,
In my opnion if as receiver we have to pay 12% for claiming ITC under RCM. If we pay 5% ITC not available.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 20 November 2018
| Originally posted by : Manjit Sahdev | ||
 |
DearSir, In my opnion if as receiver we have to pay 12% for claiming ITC under RCM. If we pay 5% ITC not available. |
 |
No dear. The Condition of "5% but, ITC not available & 12% ITC available" only to Service Provider (GTA).
It's not applicable to Service receipient.
If GTA :
1st condition - They can't charge GST in his invoice and Service receiver will pay under RCM. GTA can't claim any ITC for their Inward Supplies.
2nd Condition - They will charge GST on his supplies and Receiver no need to pay GST under RCM basis. Bcoz, Tax already charged in Invoice. GTA claim ITC for their Inward Supplies...
Manjit Sahdev
(AGM Finance)
(24 Points)
Replied 20 November 2018
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