Menu
GST Reverse charge on
Sir, In the case of the dealer the proper officer has been issued a notice to pay the GST with penalty.Sir I want to know that can the dealer reverse his ITC outstanding with the dealer at present and out of ITC/GST paid in next month on purchases outstanding with the dealer.Sir my actual querry is that in the above cited matter the dealer paid the tax out of outstanding ITC with the dealer or in cash.Thanks.
Replies (1)
You cannot use outstanding Input Tax Credit (ITC) to pay the GST notice demand. Both the RCM tax liability and the associated penalty must be paid strictly in cash via the Electronic Cash Ledger. You can, however, claim ITC for the RCM tax paid in cash in your subsequent month's returns.
Recent Topics :
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
- TDS on rent paid to RNOR Landlord. Can RNOR US tax
- PAN CANCELLATION OF A DISSOLVED PARTNERSHIP FIRM
- Transport agency accounting entry in purchase &
- REGARDING HSN CODE FOR WASHING JOB CHARGES
- Advance Tax Due Date 2026
Related Topics :
CAclubindia
