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Input credit of gst paid on urd

ITC / Input 302 views 3 replies

If we have paid  Rs.3,25,000 against our URD liability for the month of July-2017. & again in the month of Aug-2017 we have fresh liability of Rs.3,50,000/-against URD transactions. 

so how much tax payment should be done through challan  in this month? Rs.25000/-or Rs.3,50,000/-?

please advise.

Replies (3)

The amount of tax is to be calculated on the value of goods/services purchased from URD, multiplied with the rate of tax on such goods/services. The challan should be prepared accordingly. I presume that the amount of Rs. 3,25,000/- and amount of Rs. 3,50,000/- represent the value of goods/services purchased from the customer. You have mentioned the descripttion of goods or services purchased. However, you can find out the rate of tax from GST app.

amount  i have mentioned  is tax liability itself.

my RCM liability in July-17 was for Rs.325000/- which was paid on 20.8.17, filed GSTR3-B.

in the month of Aug-17 there is liability towards RCM transaction for Rs.3,50,000/-.

If your liability on August Rs. 350,000/- then you can pay 350000/-


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