Tax paid on rcm

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saurabh (Querist)
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24 September 2017 if my input tax credit balance is always more than output liability than what about balance of tax paid under reverse charge under cash ledger?

RAJA P M

RAJA P M (Expert)
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24 September 2017 Under RCM related payment ll be pay as Cash payment... After you can adjust it your liabilities. In case you can't any liabilities then you can get refund your all ITC.

anshul aggarwal

anshul aggarwal (Expert)
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24 September 2017 YOU have to deposit challan for RCM every month irrespective of your ITC balance.

anshul aggarwal

anshul aggarwal (Expert)
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24 September 2017 Then you will take input tax credit if this RCM paid in same month that will again increase your credit ledger balance. That's why its recommended in your case to avoid RCM by using daily 5000 exemption limit by distributing your expenses over the month

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