Input credit

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This discussion concerns the eligibility period for claiming Goods and Services Tax (GST) paid under the Reverse Charge Mechanism (RCM) when payment was delayed due to the lockdown. Specifically, if RCM GST for March 2020 was paid in May 2020, the credit is generally admissible in the month of May 2020, after the payment is made. However, clarification is sought on whether the credit can be claimed for the March 2020 return period.

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(Querist)
18 November 2020 Hi all,
GST (under RCM) paid for the month of March 2020 in the month of may 2020 bse of lockdown. When can credit of the same be availed ? whether for the month of march 2020 or for the month of may 2020?

Thanks in advance.
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Nitin Bhuta

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Nitin Bhuta (Expert)
18 November 2020 ITC would be eligible during the month of May 2020....................such ITC is admissible after the payment of RCM ITC.
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Sonal

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Sonal (Querist)
18 November 2020 But can I take credit in the return for the month of march 2020 as payment for the march is made in May 2020?
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Nitin Bhuta

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Nitin Bhuta (Expert)
18 November 2020 Please read the provisions of ITC under Chapter V
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