RCM IGST


This query is : Resolved 

Quick Summary
This discussion clarifies the applicability of Reverse Charge Mechanism (RCM) for IGST on imported intangible assets. The consensus is that RCM is indeed applicable. Furthermore, it's confirmed that even an invoice dated September 2020 can be processed now, with advice to pay the RCM and subsequently claim Input Tax Credit (ITC).

10 June 2021 Hello everyone......

we imported an equipment design ..........it is an asset..............is IGST RCM applicable????

and the invoice dated Sep 2020 can we book now???

10 June 2021 It's an intangible asset.
RCM applicable.
Yes, pay it now and claim ITC.

10 June 2021 Pay RCM and take ITC....


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