Can i claim itc on royalty for mining paid to state govt

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11 Points Posted on 20 January 2021
can i claim itc on royalty for mining paid to state govt
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On 20 January 2021 at 16:14 Report
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Yes, you can claim Input Tax Credit (ITC) on royalties paid to the state government for mining activities. This payment typically falls under the Reverse Charge Mechanism (RCM). You will need to pay the RCM and can then utilise the credit at a 5% rate.

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Chartered Accountant
24588 Points Posted on 20 January 2021
Yes you can claim
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On 20 January 2021 at 17:50
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11 Points Posted on 20 January 2021
Whether state govt is a registered supplier or unregistered supplier
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On 20 January 2021 at 17:53
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102 Points Posted on 20 January 2021
Royalty paid to government comes under RCM.
RCM had to be paid and credit to be utilised @ 5%
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On 20 January 2021 at 19:45

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