Can RCM 5% be claimed for input credit?

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1 Points Posted on 25 June 2020

Hello all : 

We have supplied goods through a trailer service and the bill has mentioned the Tax to be considered on RCM basis of 5%. If we pay the 5% can this be claimed as input credit? 

 

Thanks

Hari

 

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On 25 June 2020 at 13:34 Report
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Quick Summary
This discussion clarifies whether the 5% tax paid under Reverse Charge Mechanism (RCM) can be claimed as input tax credit (ITC). The consensus is yes, provided you are not a composite dealer and have correctly declared and paid the tax in your GSTR-3B. Ensure the credit isn't blocked under Section 17(5) of the relevant tax laws.

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51 Points Posted on 25 June 2020
Yes. You can claim the same as ITC as 5%
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On 25 June 2020 at 16:09
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GST Practitioner
55067 Points Posted on 26 June 2020
Yes you can claim if you are not the composite dealer.
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On 26 June 2020 at 00:43
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51 Points Posted on 27 June 2020
Yes, you have the right to claim ITC entirely 5% only if you have declared in GSTR - 3B and paid the tax.
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On 27 June 2020 at 16:45
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241 Points Posted on 28 June 2020
Yes it can be claimed as ITC if not blocked through section 17(5)
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On 28 June 2020 at 16:07

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