GST on freight - Know GST rate on freight charges, goods transport agent, the provisions for registration, tax liability and tax credit for GTA under GST.
Dear Sir Madam We charged freight charges on invoice and calculated GST on the same rate as applicable on goods But the same amount of freight paid to GTA Is GST to be paid on RCMalso Example Value of Goods 90000 Freight charges 10000 Taxable value 10...
This unique ID can then be carried by the transporter in-transit and be given to any official that wishes to verify the details and legitimacy of the carried goods when crossing state borders. This system does away with the need for state officials to verify stacks of documentation with other...
Based on most assets and services which is traded for indigenous consumption, GST is the most prominent value-added indirect tax reform in the country. Consumers pay the GST, but it is paid to the government by the company’s marketing the goods and services. With the implementation of the...
Dear Sir We had paid an amount of Rs 5000 as RCM transporter and showed the same in return of December 2020 Now during the return filing for the month of January 2021 when i take the ITC of Rs 5000 it shows RED Please advise With best regards Vijay
Reverse Charge under GST Under the reverse charge mechanism, the burden of the tax is the recipient of goods or services or both instead on the supplier. In other words, reverse charge means where the recipient of goods or service or both has to discharge the tax liability on his own accou...
Answer:if the tour operator acts as a pure agent then he may charge 5% on his own commission whereas the hotel will charge the applicable rate on its own services. Question 37: GST paid wrongly in interest head instead of correct tax head. No option is available in GST Act to off set...
How to Generate e-way bill? To generate an e-way bill, the supplier and transporter will have to upload details on the GST Network portal, after which a unique e-way bill number(EBN) will be made available to the supplier, the recipient and the transporter on the common portal. ...
Reverse Charge under GST Under the reverse charge mechanism, the burden of the tax is the recipient of goods or services or both instead on the supplier. In other words, reverse charge means where the recipient of goods or service or both has to discharge the tax liability on his own accou...
In Nil GST CMP-08 return, the following details are to be filled: Outward supply (sale) Liability due to GST reverse charge (incl. import of services) Any other GST tax liability Very importantly, there’s no provision to enter the details of inward supply (purchases) in GST CMP-08. Pu...