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Input Tax credit on RCM

ITC / Input 1555 views 7 replies
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26 Points Posted on 25 February 2019
can I get the benifit of itc in RCM under GST??
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On 25 February 2019 at 14:53 Report
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Nil
2791 Points Posted on 25 February 2019

Yes 

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On 25 February 2019 at 14:54
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26 Points Posted on 25 February 2019
how I get this ? what is the activity behind this procedure
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On 25 February 2019 at 14:55
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Nil
2791 Points Posted on 25 February 2019

First shown it under out put liability (GSTR 3 B) and the same claimed in the input available column in the GSTR 3 B

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On 25 February 2019 at 14:57
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Student
7053 Points Posted on 25 February 2019
beat available answer here https://www.taxmanagementindia.com/visitor/detail_article.asp?ArticleID=7560&kw=WHEN-CAN-ONE-TAKE-ITC-FOR-RCM-CASES
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On 25 February 2019 at 16:06
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Senior Accountant
213 Points Posted on 25 February 2019
input includes tax paid under rcm.first make the payment through e cash ledger then avail credit through e credit ledger.but since output tax doesnt include tax paid under rcm, input available on account of rcm can be used only against liability under rcm
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On 25 February 2019 at 17:04
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62 Points Posted on 25 February 2019
you can easily take itc on rcm first you mentioned inwards supply as reverse charge in GSTR - 3B. if there is payable in that month you should pay rcm amount merge with total taxable liability there is no need to make separate challan for rcm after pyt you will easily take itc on that rcm amount
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On 25 February 2019 at 18:04
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Student
7053 Points Posted on 25 February 2019
@ NithinSivadas Nice and orderly explanation 👍
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On 25 February 2019 at 23:10


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