ITC in respect of RCM Liability

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Manager
23 Points Posted on 17 March 2023
Can we claim ITC in respect of GST Liability paid on inward supplies under RCM during the course of Audit post issuance of Audit Findings?
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On 17 March 2023 at 10:48 Report
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This discussion clarifies whether Input Tax Credit (ITC) can be claimed for GST liabilities paid on inward supplies under the Reverse Charge Mechanism (RCM) after audit findings have been issued. The consensus is that ITC can be claimed, provided it's within the specified cut-off date for claiming ITC, which is the September return following the end of the financial year.

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CA Job
606 Points Posted on 17 March 2023

yes cut off date for claiming ITC is september month return from the end of Financial year, for eg for 2022-2023, upto sectember 2023 return we can claim ITC

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On 17 March 2023 at 15:21
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Manager
23 Points Posted on 17 March 2023
ITC is related to financial year 2017-18
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On 17 March 2023 at 16:24

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