I am registered taxable person and had paid Legal Fees in Nov 2017 but failed to discharge RCM GST liability. Now, How to discharge GST RCM liability? If I pay GST in Dec 18, Can I claim ITC for the same in Jan 19 return?
20 December 2018
you have to discharge your liability by paying it in GSTR-9C if audit case else deposit amount in question and credit of same will not be allowed being lapsed credit.
Reverse Charge Mechanism: This section outlines the cases where the recipient of the goods or services is liable to pay GST under RCM. Legal services are one such category. **B. Rule 36(4) of CGST Rules, 2017:
Input Tax Credit: This rule provides the conditions for claiming ITC. You can claim ITC on GST paid under RCM if it is used for business purposes. **C. Circular No. 24/24/2017-GST:
Clarification on ITC: This circular provides clarification on the application of ITC and RCM. It confirms that ITC on GST paid under RCM can be claimed in the return for the period in which the payment was made. **D. Notification No. 38/2017-Central Tax:
Payment of Tax under RCM: This notification provides guidance on the payment of tax under RCM and its implications.
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