GST on Sales: Rs 20000/-
GST on Exp under Rcm : Rs 10000/-
Whether 30000/- payable this month and take 10000/- input credit of RCM next month
Or pay 20000/- this month itself??
In GST the Credit of RCM is available in the Same month.
Subject to the payment of RCM Liability.
For E.g.
| Situation 1 | Situation 2 | Situation 2 | |||
| Input tax credit | 2,000 | - | - | ||
| RCM Credit | 1,000 | 2,000 | 5,000 | ||
| A | 3,000 | 2,000 | 5,000 | ||
| Normal Liability | 3,000 | 4,000 | - | ||
| Less: ITC (A) | - 3,000 | - 2,000 | - 5,000 | ||
| Net payable (B) | - | 2,000 | - 5,000 | ||
| RCM Liability | 1,000 | 2,000 | 5,000 | ||
| Cash Payable (A+B) | 1,000 | 4,000 | 5,000 |
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