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Itc of gst paid under rcm

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 August 2017 Sir,
We have Liability on outward supply of Rs 10000.00 and liability of Rs 5000.00 on Inwards supply from URD for the month of July'17. Is it possible to get the credit of ITC on GST paid against RCM for the month of July'17.

In other way we wish to make the payment Rs 5000.00 against RCM and Rs 5000.00 against outwards supply after offset the ITC.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
25 August 2017 If RCM liability is paid in July ITC credit can be taken in July and 5000 could be paid on out put supply.
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