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ITC ADJUSTMENT
CAN ITC ADJUSTED WITH PAYMENT OF RCM?
Replies (4)
no
rcm is to be paid in case and adjust next month
rcm is to be paid in case and adjust next month
RCM output liablilty is to be paid in cash.
Where as RCM input can be adjusted in the same month with output liablity(other than RCM o/p)
i
In short as per my view the payment of tax should not be lesser than TAX UNDER RCM.
In short as per my view the payment of tax should not be lesser than TAX UNDER RCM.
RCM CAN NOT BE ADJUSTED AGAINST INPUT TAX CREDIT. IT CAN BE ADJUSTED AGAINST NET OUTPUT LIABILITY.
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