Rcm can adjust in our excess itc
This query is : Resolved
03 November 2017
Sir/Mam,
RCM sgst and cgst can adjust our ITC sgst and cgst , if adjust where it should be adjust please clarify these doubts
Thanking you
RCM sgst and cgst can adjust our ITC sgst and cgst , if adjust where it should be adjust please clarify these doubts
Thanking you
CA Shubhanshu Jain
(Expert)
03 November 2017
GST payable under Reverse charge has to be paid in cash only i.e from electronic cash Ledger and balance, if any available in electronic credit ledger cannot be utilised for payment of same. In Short, CGST/SGST payable under RCM cannot be adjusted from available ITC of CGST/SGST.
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B Vinay Reddy
(Expert)
03 November 2017
Yes Ms.Archana you can avail Input of CGST and SGST paid on RCM.
Show the same in GSTR 3B under Table 4 Eligible ITC >(A) ITC Available (whether in full or part) > (3) inward supplies on reverse charge (other than the on import of goods and services reported above)
Show the same in GSTR 3B under Table 4 Eligible ITC >(A) ITC Available (whether in full or part) > (3) inward supplies on reverse charge (other than the on import of goods and services reported above)
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B Vinay Reddy
(Expert)
03 November 2017
But you cannot setoff RCMliability with CGST or SGST or SGST.
Compulsorily you should pay in Cash and you can avail Input
Compulsorily you should pay in Cash and you can avail Input
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