Credit of input under rcm
This query is : Open
02 October 2017
Mr. A is a trader and deals in both taxable and exempt supplies. He pays CGST and SGST under RCM. Now he wants to know whether he can claim full ITC of the tax paid under RCM or has reverse the proportionate tax relatable to exempt supplies.
02 October 2017
If you paid tax under RCM basis then you can claim full ITC based on rules...
Also, You can deal Exempt supplies then No need reversal of Tax paid amount as RCM...
Also, You can deal Exempt supplies then No need reversal of Tax paid amount as RCM...
02 October 2017
You can claim full ITC. No need to reverse any ITC
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