itc of rcm paid

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Gourav Sharma (Querist)

22 August 2017 can u please tell me how to show itc of reverse charge.. like gst under rcm paid by me 5000 now we show it under itc(liable to reverse charge) ??? and also itc of reverse charge is added with itc of normal purchase or it shows sepratrly in e cash ledger??

RAJA P M

RAJA P M (Expert)

22 August 2017 You can show the value of RCM related tax on liable to reverse charges and you ll be pay as cash.
You also adjust it cash ledger. Not adjust in ITC...

First add it liability section after adjust in ITC section as cash...

(It's treated as Income Tax Depreciation method. First add to liability then Less from Payments)

Gourav Sharma

Gourav Sharma (Querist)

22 August 2017 then how we claim itc of reverse charge. if i use ur method then there is no itc of this cash paid

RAJA P M

RAJA P M (Expert)

22 August 2017 It's not my Way.... It's government's rule. Filing above said way is as per rule....

Gourav Sharma

Gourav Sharma (Querist)

23 August 2017 but others say u claim itc of rcm in the same month

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