We despatch materials by lorry transport and we pay freight charges. Transporter having gst registration, issues only an Lorry receipt ( L/R) and does not collect any gst. Freight amount will be around Rs. 1000/-. Should we pay gst under RCM and claim ITC, if so at what percentage?
Thank you Mr. Raja, isn't there some limit, below which one need not pay gst under RCM? And this 5% is it to be shown as sgst and cgst 2.5% each?
Mr. Raja, can we take ITC for this 5% in the same return as we pay gst under RCM?
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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