The reverse charge liability cannot be discharged by using input tax credit.Advance paid for reverse charge supplies is also liable to procure GST. The person making advance payment has to pay tax on a reverse charge basis.5. Can you get Input tax credit (ITC) on transactions under RCM?
1. **RCM Liability:** When certain services are availed from an unregistered supplier or specific goods/services are procured as per GST law, the liability to pay GST shifts from the supplier to the recipient. This is known as Reverse Charge Mechanism (RCM). ...
The ITC from GST can be utilized within the same month, and to the extent of the IGST paid upon claiming it, to release the outward tax liability. RCM Under GST Transportation Tax is charged on GST Services, which are nothing more than outsourced transportation agencies that provide the ...
Our Gross Receipts are from 2 sources i e from sales of material and transportation services Now my question is 1 Whether I am liable to pay GST on outward transportation charges 2 Whether GST payable under RCM on inward Transportation Charges paid