RCM – GTA – ITC

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    asubrahmanyam
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    ONE OF OUR ASSESSEE OBTAINED GST REGISTRATION DURING JULY, 2017. DURING DEC – 2017 AND JAN – 2018, HE BOUGHT TWO HEAVY GOODS VEHICLES WORTH OF Rs.70 lakhs. BY ERRONEOUSLY OR LACK OF KNOWLEDGE, HE DID NOT PRODUCE HIS GST Reg. DETAILS TO THE SUPPLIER, ACCORDINGLY THE INVOICES WERE MADE BY THE SUPPLIER. TILL NOW HE DID NOT FILE GST RETURNS. DURING FY 2017-18 HE HAS MADE THREE CRORES TURN-OVER WITH A PRIVATE LTD. COMPANY. APART FROM THE ABOVE HE ALSO MADE TURN OVER AMOUNTS TO Rs.1.20 Crores WITH UN-REGISTERED PERSONS. NOW WE ARE MAKING HIS BOOKS OF ACCOUNTS AS WELL AS GST RETURNS FOR FILING GST / IT. IN THIS CONNECTION WE SEEK YOUR CLARIFICATIONS ON ACCOUNT OF FOLLOWING POINTS.
    1). CAN HE AVAIL ITC AGAINST PURCHASE OF TWO HEAVY GOODS VEHICLES.
    2). APPLICABILITY OF RCM AGAINST TURNOVER Rs.1.20 Crore.
    3). ANY MORE PRE-CAUTIONS TO BE TAKEN WHILE MAKING BOOKS.

    SEEKING YOUR VALUABLE SUGGESTION EITHER BY RETURN MAIL OR PHONE AT THE EARLIEST.

    SUBRAHMANYAM A

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