Rcm igst paid and credit for that taken agst sgst
This query is : Open
Guest
Guest
(Querist)
28 September 2017
I have observed one case in which party in his books of account pass entry for rcm for july month of igst paid. And he had taken that credit for sgst. Is it proper? And if yes then how can we do it in online return?
28 September 2017
Yes you can do so.
Firstly you have to pay IGST in cash.
Then claim credit of same in GSTR-2.
Same credit will be availble to offset you tax liability & as per provision IGST credit set off from SGST also...
29 September 2017
Yes... You can set off it to CGST and SGST also IGST....
But, RCM related liabilities pay first as Cash...
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