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Itc on gst paid under rcm

saud ahmed (Student CA IPC / IPCC) (270 Points)

08 November 2019

i have paid GST under rcm for the month of oct 2019
can i claim itc on above gst while payment of gst liability on sale for the month 0f October itself?
or should i claim its on hst gst paid under rcm in next month?

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4 Replies

RAJA P M ("Do the Right Thing...!!!") (127148 Points)
Replied 08 November 2019

Yes... You can claim ITC in the same month for the payment of rcm related Taxes...

As Er Your query You can claim in October itself...

Surjeet Negi (947 Points)
Replied 08 November 2019

Yes, you can take credit of the same in the same month basis the self invoice.

please note that tax payment is pre-requisite before availing the same.

Sivaramakumar (GM-ACCOUNTS) (142 Points)
Replied 10 November 2019

YES YOU CAN CLAIM ITC IN THE MONTH OF PAYMENT ITSELF

Mukesh Katara (Account manager) (533 Points)
Replied 10 November 2019

As per Section 31(3) sub section (f) read with section 9(3), ITC can be calimed on the basis of requisit documents (self invoicing) subject to payment of Tax

So same Month itself you can claim credit.