Itc for gst paid under rcm
This query is : Resolved
17 August 2017
Dear Sirs / Madam,
Can we take ITC for GST paid in the same month. If we take in this same month, this will not increase tax liability, in such case what is the benefit to the Government ? I got confused, can any one explain me.
Dear Sirs / Madam,
Can we take ITC for GST paid in the same month. If we take in this same month, this will not increase tax liability, in such case what is the benefit to the Government ? I got confused, can any one explain me.
18 August 2017
You can take the credit only after making the payment of RCM
18 August 2017
ITC against RCM is to be treated same way as that of ITC against GST charged by other suppliers
N Jain
group.blr@gmail.com
N Jain
group.blr@gmail.com
18 August 2017
Thank you very much, so RCM shall be paid through cash ledger and then take ITC. We are not supposed set off against RCM payable against GST paid on other purchases.
18 August 2017
Thank you very much, so RCM shall be paid through cash ledger and then take ITC. We are not supposed set off against RCM payable against GST paid on other purchases.
18 August 2017
No you can not setoff against RCM payable
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