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input tax credit on RMC

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NANDAN (Querist)
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09 June 2017 dear experts, is there input tax credit for RMC paid on supply of goods.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 June 2017 Yes input tax credit available on GST paid under RCM.

NANDAN (Querist)
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09 June 2017 RMC is an indirect tax?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 June 2017 I meant reverse charge. What is RMC.

NANDAN (Querist)
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09 June 2017 RMC (MARKET CESS)

NANDAN (Querist)
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09 June 2017 sir, can u guide me about what is reverse charge under GST?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 June 2017 No input credit can be availed on market cess. If you are a registered dealer under GST buying a material from unregistered dealer you have to pay GST under reverse charge.

NANDAN (Querist)
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09 June 2017 k thank you sir

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