GST/RCM Applicability

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This discussion clarifies that Indian companies importing software from outside India for trading purposes will attract Goods and Services Tax (GST) under the Reverse Charge Mechanism (RCM). The importing Indian company is liable to pay this GST. Furthermore, the input tax credit for the GST paid on software import can be claimed in the same month, provided the software has been received.

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(Querist)
11 January 2021 One of the Indian company buying a software from out side India for trading in India , will it attract any GST / RCM ???
Kindly guide me
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Lekhraj sood

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Lekhraj sood (Expert)
11 January 2021 Yes GST is to be paid by your Indian company on its import.
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JAMES VERGHESE

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JAMES VERGHESE (Querist)
13 January 2021 Can I claim as input, which is paid on the import of goods in same month ????
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Lekhraj sood

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Lekhraj sood (Expert)
13 January 2021 Yes, you can when goods are received by you.
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