Q. 742 Is RCM applicable in case of transportation through non motorised vehicle such rickshaw or cart? 

Ans. If the supplier of services is GTA, then it is covered under RCM.

Q. 741 Whether post sales discount received such as cash discount for early payment, incentive, target base discount for achieving sales target are liable for input GST reversals or not.

Ans. ITC reversals are required in case of GST credit note given, keeping other conditions of post-sales discount satisfied.

Q. 740 why Notification No. 20/2021 – Central Tax dated 1st June 2021 is not updated (referred ) with section 47 of CGST Act 2017 as explained in Taxo. online, what are the late fees will currently charge in case GSTR1 is not filed on the due date? 

Ans. Late fees is fifty for every day subject to a maximum late fee of Rs. 2000/5000 as per turnover. Since this notification is for the rationalization of late fees therefore it is kept in the notifications column.