RCM-GTA-5% - ITC ELIGIBILITY

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..... Hi, Can we have clarification as to RCM paid at 5% on GTA is eligible ITC or ineligible ITC. on the other hand if GTA entity pays GST at 5% and appearing in GSTR-2B - are we eligible for ITC credit. - Reply By KASTURI SETHI - The Reply = Sh.Govinda Raju Ji, W.e.f. 18.7.22, the option to pay GST @ 5% without ITC under forward charge mechanism by GTA was introduced. Prior to 18.7.22, the only option .....

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..... was to pay GST @ 12 % with ITC by GTA under FCM. For more details see Issue ID 117765 dated 22.1.22 which was raised by you. - Reply By Sadanand Bulbule - The Reply = Dear Sir It appears the dark clouds surrounding this issue are not yet dispersed, despite thoughtful clarification. - Reply By KASTURI SETHI - The Reply = Sh.Sadanand Bulbule Ji, Sir, If the dark clouds still persist, then the queri .....

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..... st may apply to the jurisdictional AAR for further clarification on a specific problem/issue. - Reply By Sadanand Bulbule - The Reply = Dear Sir AAR is an expensive and time consuming process and the final product is the same. - Reply By Shilpi Jain - The Reply = For you to take credit or be eligible to take credit, it does not matter the rate of tax that you pay for your expenses. Hence, if you a .....

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..... re providing taxable supplies you would be eligible to take ITC. - Reply By Tarun Agarwalla - The Reply = in both cases you are eligible I endorsed the view of Silpi Jain Madam. - RCM-GTA-5% - ITC ELIGIBILITY - Query Started By: - Govinda Raju Dated:- 25-9-2024 Last Replied Date:- 26-10-2024 Goods and Services Tax - GST - Got 6 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by .....

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..... an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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