ITC ON RCM
Yash Jain (122 Points)
13 July 2017
can we avail credit of gst paid under RCM to gta @ 5%
4 Replies
Narayan Shivhare
(204 Points)
Replied 13 July 2017
if u not cover in COMPOSITION then only u can take ITC,,,
Yash Jain
(122 Points)
Replied 14 July 2017
but on various platforms, professionals are saying that no ITC will be available on gta services wherein GTA is @ 5%
Narayan Shivhare
(CA)
(64 Points)
Replied 14 July 2017
ITC not allowed to Goods transport agency but it allows to traders who bear the burden of GST. For Non Composition Traders ITC of GST on payment of freight allow to that trader who actually bear the barden of GST on Freight.
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