applicability of rcm between regular gst parties
I have received a consignment from U.P. through
I have received a consignment from U.P. through VRL Logistics(Transporter) and freight charge was rs.1100. Freight receipt had a footnote 'under RCm gst is tobe paid by consignee'. My question is when both of us (transporter and myself) are regular gst parties, isn't it transporters duty to charge gst in freight receipt? How come RCM applicable as my gst no. is printed in freight receipt so also Vrl's.
Is it valid practice? more
I have received a consignment from U.P. through VRL Logistics(Transporter) and freight charge was rs.1100. Freight receipt had a footnote 'under RCm gst is tobe paid by consignee'. My question is when both of us (transporter and myself) are regular gst parties, isn't it transporters duty to charge gst in freight receipt? How come RCM applicable as my gst no. is printed in freight receipt so also Vrl's.
Is it valid practice? more
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As of now RCM is not chargeable and under hold until further notification, you lodge a query with GST cell with copy of the freight bill !!! more
Nov 16
Dear Dinesh Nayak The option to go by RCM @ 5% or by regular GST at 12% is left with the GTA .If a GTA opt for RCM for a Financial Year it is valid for the year.As you know RCM 5% is not eligible for ITC by consignee. So while selecting GTA for TOPAY basis consignments, please ensure that the GTA is opted for 12% GST so that the consignee get ITC. more
Nov 16
Services by a Goods transport agency in respect of transportation of goods by road under reverce charge catagory so the payment of gst on transport will be paid by service receipent more
Nov 16
The following businesses (recipient of services) is required to pay GST under reverse charge:-
Factory registered under the Factories Act,1948;
A society registered under the Societies Registration Act, 1860 or under any other law
A co-operative society established under any law;
A GST registered person
A body corporate established by or under any law; or
A partnership firm whether registered or not (including AOP)
Casual taxable person more
Factory registered under the Factories Act,1948;
A society registered under the Societies Registration Act, 1860 or under any other law
A co-operative society established under any law;
A GST registered person
A body corporate established by or under any law; or
A partnership firm whether registered or not (including AOP)
Casual taxable person more
Nov 16
Here itself there are differences of views. What's happening to business community is regularly reported here. As common people we are to pay GST in newer areas. the indidence of GST has certainly enhanced payment in every type of expences and definitely it is too complicated as faced by different sectors of payers. And it is being reduced or further divided into areas as per need. FAR FROM UNITARY APPROACH. more
Nov 16
Rcm is on hold until further notice from the government. Perhaps it will be withdrawn or modified. more
Nov 16
Gst on transporter service come under RCM. And consinee has to pay gst. After payment... He is eligible to take input credit Next month. Rcm liability can not adjust with input more
Nov 16
