https://www.taxtmi.com/forum/issue?id=115929 GTA may opt between forward charge and reverse charge only at the start of a financial year. Under FCM the GTA pays tax and may avail ITC; under RCM the GTA's supplies are treated as exempt and ITC is not allowed. If a GTA moves from FCM to RCM at the financial year start, the unutilized proportionate ITC on inputs and capital goods must be reversed in terms of the prescribed reversal mechanism (Rule 44). en-us Fri, 24 Jan 2020 16:33:12 +0530 Thu, 23 Jan 2025 15:54:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=115929 GTA may opt between forward charge and reverse charge only at the start of a financial year. Under FCM the GTA pays tax and may avail ITC; under RCM the GTA's supplies are treated as exempt and ITC is not allowed. If a GTA moves from FCM to RCM at the financial year start, the unutilized proportionate ITC on inputs and capital goods must be reversed in terms of the prescribed reversal mechanism (Rule 44). Discussion-Forum GST Fri, 24 Jan 2020 16:33:12 +0530 https://www.taxtmi.com/forum/issue?id=115929