This discussion clarifies whether Input Tax Credit (ITC) can be claimed on an invoice received in March 2019 from a GTA, where the Reverse Charge Mechanism (RCM) is applicable. The consensus is that ITC is indeed claimable on such bills after paying the applicable tax under RCM. Further clarification on specific circulars or notification numbers related to ITC rules is sought.
31 January 2020
An invoice is related to March, 2019 received from GTA. RCM is applicable on that bill. Please advise whether we can take the ITC on that bill after paying the tax amount as RCM is applicable.