FCM and RCM under GST
Query (Issue) Started By: – Prakriti Mish Dated:- 16-8-2018 Last Reply Date:- 28-8-2018 Goods and Services Tax – GST
Got 10 Replies
GST
A GTA service provider can opt for RCM in case of FCM anytime ? or there is some requirement by law.
can he change his mechanism anytime ?
Reply By ANITA BHADRA:
The Reply:
In my view , option for RCM / FCM by GTA service provider is transaction based and not for specific period .
No such requirement has been indicated in any notification / provisions under GST Act .
Experts are requested to share their views
Reply By KASTURI SETHI:
The Reply:
After browsing so many notifications/circulars/FAQs etc. I am also of the same view.
Reply By Himansu Sekhar:
The Reply:
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y Prakriti Mish:
The Reply:
From when I can shift to FCM from RCM ? Client has supplied under both mechanism. How to correct his transactions ?
Reply By Ganeshan Kalyani:
The Reply:
Logically from the beginning of a month or beginning of a year.
Reply By Ravikumar muthusamy:
The Reply:
If GST collected by GTA in his bill then no need for GST payable by receipient under RCM.
Experts pls correct me if wrong
Reply By KASTURI SETHI:
The Reply:
This is an extract from 20th GST Council Meeting on 5.8.17
8.
Goods Transport Agency Service (GTA)
Allowed option of 12% GST with full ITC under forward charge. 5% GST with no ITC will also continue. (However, the GTA has to give an option at the beginning of financial year
Reply By Ganeshan
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