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ITC of reverse charge???

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RAJA P M

RAJA P M ("Do the Right Thing...!!!")   (127921 Points)
Replied 25 September 2017

GTA can't paid if you are registered dealer... You only pay 5% under RCM basis...
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rinku gupta

rinku gupta (accountant) (435 Points)
Replied 25 September 2017

u book purchase itc sheet column no. 4

anshul aggarwal

anshul aggarwal (Consultant) (1074 Points)
Replied 25 September 2017

I am sorry ti say there are very wrong answers on this forum.
Shifa,
You can get ITC credit if RCM in same month. If you have forgot to demand in July you can do it in Aug GSTR3b.
Ankit,
Amount will be reflected in credit ledger as ITC.
Also ITC on amount above 5000 IS also eligible except for few items that food, radio taxi etc

anshul aggarwal

anshul aggarwal (Consultant) (1074 Points)
Replied 25 September 2017

RCM on GTA if paid by recipient is 5% and credit can be taken. No need to pay 18%.

anshul aggarwal

anshul aggarwal (Consultant) (1074 Points)
Replied 25 September 2017

Baldev,
If regd. GTA has charged GST then it has to be shown on invoice. then no need to pay on RCM basis. IF GST is not shown on invoice then you have to pay on RCM basis and take credit later

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anshul aggarwal

anshul aggarwal (Consultant) (1074 Points)
Replied 25 September 2017

Raja Ji,

Regd. GTA can also charge GST irrespective of recipient/seller is regd or unregistered.

Baldev Prajapati

Baldev Prajapati (264 Points)
Replied 25 September 2017

Yes me too agree with Mr. anushul Aggarwal
pls answer Raja sir

RAJA P M

RAJA P M ("Do the Right Thing...!!!")   (127921 Points)
Replied 25 September 2017

https://cleartax.in/s/goods-transport-agency-under-gst
1 Like

mahendra

mahendra (Asst. Accountant) (24 Points)
Replied 25 September 2017

tell me in about reverse charges & percentage on frieght and other expenses which is under reverse charges

how to show stock summery with HSN code in Tally erp9


mahendra

mahendra (Asst. Accountant) (24 Points)
Replied 25 September 2017

pls. answer Mr. Raja ji


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