RCM tax on GTA ITC
Girish Kapase - Account & Tax (Accounts & Tax Services) (2 Points)
16 May 2019
RCM tax on GTA Payment can we claim as itc at same month
7 Replies
CA Aravind Penugonda
(Chartered Accountant)
(311 Points)
Replied 16 May 2019
Yes, you can claim in the same month itself. There is no provision under GST, unlike in Service Tax, restricting the assessee to claim ITC of tax paid under RCM in the next month
Sridevi
(Accountant)
(380 Points)
Replied 17 May 2019
Hi All,
I heard that RCM on GTA has been cancelled at present. Is it true?
Thanks
CA Haritha Komma
(Chartered Accountant)
(1147 Points)
Replied 17 May 2019
No...
If the supplier charges GST @ 12% with ITC, then RCM is not applicable. In rest of the cases, RCM is attracted.
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through Chat GPT
CA Deepak Gupta26 April 2025
CAclubindia
