gta credit

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..... gta credit
Query (Issue) Started By: - Ramakrishnan Seshadri Dated:- 17-11-2017 Last Reply Date:- 19-11-2017 Goods and Services Tax - GST
Got 5 Replies
GST
Dear Sir, We are manufacturers of automobile parts supplying to OEM. The finished goods are supplied to them through transport agency. We have an understanding with an intermediate service provider who will recieve the transport .....

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..... agency invoices in his name with gst 5% and he will pay to the transport agency and gst to the government. After that he will raise invoice on us for this transport service along with his service and claim gst. Now our question is whether gst paid and claimed by the intermediate service provider is eligible for gst credit by us Please clarify experts Thanks & Regards, S.Ramakrishnan Reply B .....

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..... y Ganeshan Kalyani: The Reply: In my view, yes the credit is eligible . Reply By Ramaswamy S: The Reply: The intermediary is a service provider. He needs to charge GST on his invoice to you. The GST so paid can be claimed as credit by you. regards S.Ramaswamy Reply By Ganeshan Kalyani: The Reply: One of the condition for input tax credit is that the supplier of service should file GST retu .....

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..... rn. And that the invoice uploaded by him should match with your uploaded detail. So please make him aware of the importance of filing return with correct information. Reply By ANITA BHADRA: The Reply: Ramakrishnan Sir Your query title is GTA Credit . You can take credit for payment to intermediary ( including amount paid to GTA ) for his agency services and your intermediary can take credit fo .....

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..... r amount paid to GTA . As per section 24(vii) of CGST Act , registration is mandatory for agents, so intermediary is supposed to be registered and eligible to get credit for GTA payment . You should not be concerned for GTA credit eligibility clause. Experts are requested to correct me , if I am wrong . Regards CA Anita Bhadra Reply By CS SANJAY MALHOTRA: The Reply: All my friends have shar .....

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..... ed correct views. ITC is eligible on intermediary services and GTA part not to be considered as services of intermediary is charged to 18% in this case.
Discussion Forum - Knowledge Sharing .....

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