input tax credit on RMC
This query is : Open
09 June 2017
dear experts,
is there input tax credit for RMC paid on supply of goods.
CA R SEETHARAMAN
(Expert)
09 June 2017
Yes input tax credit available on GST paid under RCM.
CA R SEETHARAMAN
(Expert)
09 June 2017
I meant reverse charge. What is RMC.
CA R SEETHARAMAN
(Expert)
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.
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