GSTR9: 17-18 RCM PAID IN 2018-19

This discussion addresses how to report Reverse Charge Mechanism (RCM) liabilities for the financial year 2017-18 that were actually paid and availed in the financial year 2018-19. According to government press releases, these should be declared in FY 2018-19, not FY 2017-18, as both payment and input tax credit occurred in the later year. Any impact on turnover or financial statements can be reconciled and explained in GSTR9C.