Reverse charge mechanism

Save Share

This query is : Open

deepa (Querist)

29 August 2017 Hi,

We have taken an Goods transport Agency for july month and we have filed GSTR3B and paid under reverse charge Tax and on the same month we have taken input on same(ITC).

Whether ITC for reverse is claimable on same or on Next Month. In these case in July or august???

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

29 August 2017 In same month i.e. July.

deepa

deepa (Querist)

29 August 2017 Thank you madam... We need to pay tax in same month and claim input tax credit on same month on transport agency bills

RAJA P M

RAJA P M (Expert)

29 August 2017 In my view... RCM related payments and it's ITC no more effects on any way.... We can adjust just the RCM liability to URD received supplies only. It's not effected any other liabilities.....

RAJA P M

RAJA P M (Expert)

29 August 2017 I think it's just follow as per Depreciation method only..... So, No more effects... Advisable for don't be transact from URD...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now