GST ON RCM

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MANAGER FINANCE
26 Points Posted on 27 January 2020

Can we take ITC on reverse charges for fy 2017-18 if we are paying the same in fy 2019-20 with annual return.

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On 27 January 2020 at 22:55 Report
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Quick Summary
This discussion addresses whether Input Tax Credit (ITC) can be claimed on Reverse Charge Mechanism (RCM) payments made in FY 2019-20 for the financial year 2017-18. The consensus is no, you cannot claim ITC for RCM liabilities from FY 2017-18 or even FY 2018-19, particularly if paying in a later financial year. Reference is made to Order 1/2018 CT and a general deadline of 31st March 2019 for such claims.

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account -GST
1560 Points Posted on 27 January 2020
No you cannot take ITC
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On 27 January 2020 at 23:50
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GST Practitioner
55067 Points Posted on 28 January 2020
No.... you cannot (In term of Order 1/2018 CT)
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On 28 January 2020 at 00:23
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"Do the Right Thing...!!!"
128157 Points Posted on 28 January 2020
No... The Rcm Tax is not available for claim ITC. The time period is 31st Mar-19...
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On 28 January 2020 at 07:58
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1184 Points Posted on 28 January 2020
No. You can not avail ITC related to f.y. 2017-18 and even for 2018-19.
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On 28 January 2020 at 11:31

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