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.
\ncan he change his mechanism anytime ?
\nReply By ANITA BHADRA:
\nThe Reply:
\nIn my view , option for RCM \/ FCM by GTA service provider is transaction based and not for specific period .
\nNo such requirement has been indicated in any notification \/ provisions under GST Act .
\nExperts are requested to share their views
\nReply By KASTURI SETHI:
\nThe Reply:
\nAfter browsing so many notifications\/circulars\/FAQs etc. I am also of the same view.
\nReply By Himansu Sekhar:
\nThe Reply: <\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n y Prakriti Mish: = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" 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 – GSTGot 10 RepliesGSTA 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 … Continue reading “FCM and RCM under GST”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-13250","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13250"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13250\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nThe Reply:
\nFrom when I can shift to FCM from RCM ? Client has supplied under both mechanism. How to correct his transactions ?
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nLogically from the beginning of a month or beginning of a year.
\nReply By Ravikumar muthusamy:
\nThe Reply:
\nIf GST collected by GTA in his bill then no need for GST payable by receipient under RCM.
\n Experts pls correct me if wrong
\nReply By KASTURI SETHI:
\nThe Reply:
\nThis is an extract from 20th GST Council Meeting on 5.8.17
\n8.
\nGoods Transport Agency Service (GTA)
\nAllowed 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
\nReply By Ganeshan<\/p>\n
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