dear experts
kindly advice me if I pay 5% on transportation as rcm then I can take itc ?
for itc anybody can pay 18% on rcm transportation
6 Replies
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 28 July 2018
You can claim ITC on payment of GST @ 5% under RCM on GTA services.
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 28 July 2018
Service receiver can always avail ITC on GST paid under RCM.
Rule of with itc and without itc applicableIf GTA pays GST,
GTA has 2 options-
12% GST with ITC *
OR
5% GST with no ITC*
However, the GTA has to opt at the beginning of financial year.
*As per Notification No. 20/2017-Central Tax (Rate) 22nd August, 2017
Rule of with itc and without itc applicableIf GTA pays GST,
GTA has 2 options-
12% GST with ITC *
OR
5% GST with no ITC*
However, the GTA has to opt at the beginning of financial year.
*As per Notification No. 20/2017-Central Tax (Rate) 22nd August, 2017
narendra
(Accountant)
(281 Points)
Replied 28 July 2018
| Originally posted by : Prakash Chauhan | ||
 |
thanks but some body said cannot so how |  |
ITC is always available to receipient of Transport services irrespective of tax rate applied i.e. 5% or 12%.
It is the Transporter who cannot take ITC on his business expenses if he applies 5%.
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