Can we take input of GST for RCM output paid now on Freight for FY 2017-18, 19-20 and 20-21? RCM is in itself pay output and take input, RIght? We can pay Interest alone on the same for delay of depositing RCM output and take input now in 3B for RCM of 17-18, 18-19 or 19-20??
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GST RCM on freight for FY 2017-18, 19-20, 20-21. Can we take input for output paid now?
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I too have a same doubt. Did u get any reply if so plz send me here
Yes it is possible in view of section 31(3)(f) read with circular no 211 dated 26.06.2024 in compliance of GST Council's 53rd meeting.
The circular has clarified that time limit to avail ITC on RCM under section 16(4) shall commence from the date of raising self invoice by the reciepient. subject to payment of interest. You may refer to that circular.
Provision for availing such Input Credit has been inserted in Finance Act 2024, yet to be notified. Based on the provision any Services or Goods received from "Un Registered dealers" and liable to GST under reverse charge can be avail Input Credit as and when paid subject to Self Invoicing and payment of applicable interest and penalty.
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