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Rcm

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 August 2017 suppose itc on july purchase Rs. 10000/- and RCM payable on freight Rs. 500/-. Whether I can set off Rs. 500/- from Rs. 10000/- itc balance. In the month of July I have no sale.
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Neha Jain

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Neha Jain (Expert)
16 August 2017 No... at first you have to pay RCM liability in cash/Bank to govt. than you can take ITC of that. means ITC available to you cannot be used for RCM liability.
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