Non gst goods
This query is : Resolved
29 January 2018
Hello sir/Madam
we are dealing with non GST goods. we have made payment of GST on purchase of Goods which we are having more ITC.
this GST can not be eligible for ITC
my question is whether can we show this ITC as expense in the Books
Thanks in advance
we are dealing with non GST goods. we have made payment of GST on purchase of Goods which we are having more ITC.
this GST can not be eligible for ITC
my question is whether can we show this ITC as expense in the Books
Thanks in advance
29 January 2018
GST paid not eligible for ITC can be shown as expenses in the books.
29 January 2018
we have made gst under RCM also
can we claim the same also as an expense
can we claim the same also as an expense
29 January 2018
Un-utilise ITC can not be claimed as expenses in the book.
For conceptual clarity on GST, refer following link
https://www.amazon.in/dp/194832105X
https://www.amazon.in/dp/164249030X
For conceptual clarity on GST, refer following link
https://www.amazon.in/dp/194832105X
https://www.amazon.in/dp/164249030X
Message likes :
1 times
29 January 2018
Yes RCM paid under RCM can also be claimed as expenses.
29 January 2018
@CA R SEETHARAMAN
Cant we claim RCM paid input while paying next month RCM?
Cant we claim RCM paid input while paying next month RCM?
29 January 2018
No RCM has to be paid not adjustable against ITC.
29 January 2018
No, RCM has to be paid in cash not adjustable against ITC.
30 January 2018
If in a month total GST outward is 1000 and ITC is 500 RCM payable Is 100... Can we adjust like below
Payment RCM 100
Payable (o/w 1000 -(Less) RCM 100 (paid above) -(Less) ITC 500) Net 400.
Can we pay just 400 + 100 through RCM??/
Payment RCM 100
Payable (o/w 1000 -(Less) RCM 100 (paid above) -(Less) ITC 500) Net 400.
Can we pay just 400 + 100 through RCM??/
30 January 2018
Yes you can pay as given above.
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