I have paid Rs.2.54 lacs as RCM on transport bills (calculated @ 5%)
Can I take the same amount as input in next month. If yes any notification regarding the same.
V Sureshkumar Asked question December 26, 2020
Definitely in case the transport bills were towards furtherenace of business of supply of taxable goods, ITC can be availed. No specific Notification required , and same will be governed by Section 16 , 17 of the CGST Act, 2017.
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Frah Saeed Changed status to publish January 1, 2021