Almost yes…
If you are making payment to the GTA, then you are liable for payment under reverse charge for both i.e., inward as well as outward transportation. But Cenvat shall only be eligible for all the inward transportation and for outward transportation only upto the place of removal, as per Rule 2(l) of the Cenvat Credit Rules, 2004.
The place of removal has been defined under Section 4(3)(c) of the Central Excise Act, 1944 -
“place of removal” means -
(i) a factory or any other place or premises of production or manufacture of the excisable goods;
(ii) a warehouse or any other place or premises wherein the excisable goods have been permitted to be deposited without [payment of duty;
(iii) a depot, premises of a consignment agent or any other place or premises from where the excisable goods are to be sold after their clearance from the factory;”
So effectively, Cenvat credit on outward transportation is generally neglible.
For better understanding, read the entire definition of the ‘input service’ under Rule 2(l) of the Cenvat Credit Rules, 2004.