what are rules n regulation for transportation agency n gst rates n briefs pls tell me...
Vinod Babu
(24191 Points)
Replied 13 August 2018
Sridevi
(Accountant)
(380 Points)
Replied 13 August 2018
Hi Mr.Vinod,
Read the explanation, and I have one doubt on the above said topic. We are procuring goods through GTA and he is charging 5% Tax. Can we claim the Input of 5%.
Regards
Sridevi
uma shankar khatri
(proprietor)
(132 Points)
Replied 13 August 2018
Mr. Vinod ji,
Very nicely explained the matter. Thanks a lot.
still I have some querry , Please reply & Oblidge.The matter is as under :
I am at Rajasthan, I purchased some material from Hyderabad, GTA issued Invoice with remark GST is payable by consignee - RCM. , GTA didn't charged any GST in Invoice, We got material , paid Freight without any GST as per the Invoice,.
Now we will have to issue Invoice under RCM, Who will be Supplier & Recepient , What will be Place of Supply, Date of Invoice ?, whether to charge IGST @ 5% OR CGST @ 2.5% & SGST @ 2.5% ? , When we View GSTR-2 A , the GTA has shown INVOICE & IGST @ 5%
Will we take ITC of this GST ?
Where will we enter this Invoice in Returns. In GSTR-1 in which Tables , in GSTR-3 B- in which Tables
Uma shankar
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 13 August 2018
NO YOU CANNOT TAKE ITC IF GTA CHARGED 5%
AS PER NOTIFICATION 22/2017 CT (RATE) : GTA CAN OPT TO PAY TAXES AT RATE OF 12% AFTER COLLECTING SAME FROM THE RECEIPIENT FURTHER IT WILL BE ALLOWED TO AVAIL ITC ON HIS INWARD SUPPLY
SO , THE RECEPIENT CAN AVAIL ITC ON GTA SERVICE IF HE CHARGE @ 12% GST
uma shankar khatri
(proprietor)
(132 Points)
Replied 13 August 2018
Pankaj ji,
GTA has not charged from us, They have mentioned"GST payable by the consignee- RCM"
In GSTR-2A when viewing that , there it is mentioned IGST @ 5%. We will have to issue Invoice under RCM.
Uma shankar
uma shankar khatri
(proprietor)
(132 Points)
Replied 13 August 2018
Pankaj ji,
GTA has not charged from us, They have mentioned"GST payable by the consignee- RCM"
In GSTR-2A when viewing that , there it is mentioned IGST @ 5%. We will have to issue Invoice under RCM.
Uma shankar
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 13 August 2018
YES ,.. YOU HAVE TO DO RCM , IF GTA HAS MENTION 5% GST ON HIS BILL
uma shankar khatri
(proprietor)
(132 Points)
Replied 13 August 2018
PANKAJ JI,
On Invoice they have not mentioned GST @ 5%, They have just mentioned " GST is payable by consignee - RCM "
When we View GSTR-2A on GSTN portal there it appears GST @ 5% & amount of Tax as IGST .
Now question arises How should we prepare RCM Invoice ? Should we charge IGST OR CGST & SGST ? At what Rate ? , Name of Supplier -WHO ? Name of Recepient- WHO ? Place of Supply - ? , Date of Invoice ? And in which Tables of GSTR-1 & GSTR-3B we will fill details of This RCM Invoice ? ITC will be allowed to US ?
Please guide .
Uma Shankar
Sampada Avinash Thale
(2 Points)
Replied 13 August 2018
RITESH KUMAR JAIN
(CA IN PRACTICE)
(118 Points)
Replied 27 March 2019
ABC Transport Co., a GTA Opted for FCM with input credit and charging 12% on freight amount. One day it provides trucks to another GTA for freight of Rs. 1 lac, which is exempts service as "providing of any means of transportation to GTA" is exempt. Whereas ABC Transport opted for FCM and probably condition is that it will pay 12% on all the receipts. Should ABC Transport Co. have to pay 12% on rs 1 lac whereas it is exempts service? Kindly clarify
Narmatha Selvam
(student)
(43 Points)
Replied 20 June 2019
PLEASE CLARIFY CAN GTA OPTION FOR COMPOSITION SCHEME??
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)