ITC OF RCM PAID ON GTA SERVICES AVILED ON NON TAXABLE SUPPLY

ITC OF RCM PAID ON GTA SERVICES AVILED ON NON TAXABLE SUPPLY https://www.taxtmi.com/forum/issue?id=114426 ITC of tax paid under the Reverse Charge Mechanism on GTA services is available only for supplies that are taxable, not for exempt supplies; RCM tax must be paid in cash first. Identify invoices for taxable and exempt use so full credit can be claimed for taxable clearances; where inputs are common and not separately identifiable, claim ITC proportionately using an apportionment method such as the turnover ratio. en-us Mon, 24 Dec 2018 11:34:17 +0530 Thu, 23 Jan 2025 15:55:14 +0530 TaxTMI RSS Generator ITC OF RCM PAID ON GTA SERVICES AVILED ON NON TAXABLE SUPPLY https://www.taxtmi.com/forum/issue?id=114426 ITC of tax paid under the Reverse Charge Mechanism on GTA services is available only for supplies that are taxable, not for exempt supplies; RCM tax must be paid in cash first. Identify invoices for taxable and exempt use so full credit can be claimed for taxable clearances; where inputs are common and not separately identifiable, claim ITC proportionately using an apportionment method such as the turnover ratio. Discussion-Forum GST Mon, 24 Dec 2018 11:34:17 +0530 https://www.taxtmi.com/forum/issue?id=114426