Dear Expert
My query is we are in Area based Exemption under notification 50/2003. Now after the appointed day (01.07.2017), we will received bills of transporter pertains to May 2017 & June 2017. Then we have deposit GST @ 5% under reverse chrage? In present regime, we are not taking any service tax credit due to exemption but after GST, Can we take Service tax Credit on GTA for bills pertains to May & June 2017?
Corporation Seeks Clarity on GST for Goods Transport Services Post Exemption; Conflicting Advice on Service Tax Credit A corporation inquired about the applicability of Goods and Services Tax (GST) on Goods Transport Agency (GTA) services after transitioning from an area-based exemption under notification 50/2003. They questioned whether they need to deposit GST at 5% under reverse charge for transporter bills from May and June 2017 and if they can claim service tax credit on these bills. One expert indicated that credit on service tax paid for GTA services cannot be taken, while another advised following Section 140 of the GST Act for credit procedures. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
