REVERSE CHARGE ON TRANSPORTING EXPENSES

[NAMAN DOKANIA]

In the books of the assesse, he showed an expense of ₹ 20 lakhs relating to transporting exps for the FY 2018-19 and didnot pay reverse charge on that. Now while filing the Annual Return we noted that, now the assessee wants to pay the reverse charge tax and take the input credit. How can it be done?

[KASTURI SETHI]

Pl. go through all the replies in respect of Issue ID No.116203 dated 13.4.20.

AI Summary

Query on Reverse Charge Tax for 2018-19 Transport Expenses; Assessee Seeks Input Credit Claim Guidance An individual raised a query regarding the reverse charge mechanism on transportation expenses amounting to 20 lakhs for the financial year 2018-19, which was not initially paid. The issue arose during the filing of the Annual Return, where the assessee now intends to pay the reverse charge tax and claim input credit. A respondent advised reviewing previous discussions related to a similar issue for guidance on how to proceed.