14 July 2017
GOOD MORNING TO ALL EXPERT, RCM WILL EFFECT ON US IN TWO TYPE CONDITION. 1-WHICH SERVICE FALL UNDER RCM ( GTA LEGAL SERVICE) 2 PURCHASE FROM UNREGISTERED DEALER. SIR MY QUESTION IS THAT IN BOTH TYPE SITUATION RCM LIABILITY THROUGH PAID CASH ONLY. CAN WE NOT MAKE PAYMENT THROUGH OTHER OPTION ( NET BANKING ETC.)
14 July 2017
The meaning of cash only under GST is payment should be made(either net banking or credit/debit card payment allowed) no adjustment of ITC.
14 July 2017
MEANS SIR IF WE HAVE RCM LIABILITY 100 RUPEES AND WE HAVE 100 RUPEES OF ITC UNDER GST ( SGST, CGST,IGST). THEN IN THAT CASE WE WILL NOT UTILIZED THAT ITC AND WILL MAKE PAYMENT OF 100 RUPEES UNDER RCM.
14 July 2017
SIR ONE MORE QUESTION IS THAT PLEASE DON"T MIND . SIR DUE DATE OF PAYMENT OF THESE RCM LIABILITY AND OTHER DUE"S ( SGST, CGST, IGST) LIABILITY WILL DONE AT SAME TIME.
14 July 2017
then sir that is i want to knew if we will make rcm liability and other dues ( sgst igst cgst) liability at the same time then how we will take itc of that rcm liability in other dues liability( sgst cgst igst)
18 July 2017
SIR AGAIN WANT YOUR HELP . SIR TODAY I READ IN TAX GURU SITE. THAT IF WE WILL PAID RCM DUES FOR THE MONTH OF JULY 17 . THEN WE CAN CLAIM THAT AMOUNT IN AUGUST RETURN . SIR PLEASE CLEAR THE DOUBT.
Remember RCM paid in July can be claimed in Aug 2017 return because first you have to pay then you can claim from Govt.
19 July 2017
I could see only the following provision. Tax paid on reverse charge basis will be available for input tax credit if such goods and/or services are used or intended to be used in the course or furtherance of business. The service recipient (i.e., who pays reverse tax) can avail input tax credit.
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