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?
4 Replies
Shankar Sharma
(510 Points)
Replied 08 February 2020
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?
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 08 February 2020
Yes... We have Some limits of GST Tax under rcm basis to GTA....
Upto Rs 750 is exempted for paying GST Tax under rcm basis...
Upto Rs 1500 is exempted if transportation is single consignment...
Yes... CGST @ 2.5% & SGST @ 2.5%
Upto Rs 750 is exempted for paying GST Tax under rcm basis...
Upto Rs 1500 is exempted if transportation is single consignment...
Yes... CGST @ 2.5% & SGST @ 2.5%
Shankar Sharma
(510 Points)
Replied 10 February 2020
Mr. Raja, can we take ITC for this 5% in the same return as we pay gst under RCM?
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