ITC ON RCM (LEGAL CHARGES)

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75 Points Posted on 07 December 2020
RCM FOR FY 2019-20


QUERY - CAN WE TAKE THE CLAIM AFTER DEPOSIT ??


NOTE : WE HAVE ALREADY FILED OUR SEPTEMBER 3 B return
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On 07 December 2020 at 15:32 Report
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This discussion addresses claiming Input Tax Credit (ITC) on Reverse Charge Mechanism (RCM) for the financial year 2019-20. It clarifies that even if the RCM payment is made late and includes interest, the ITC can still be claimed. This is permissible even after filing the September return.

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Manager-Accounts & GST Consultant
5124 Points Posted on 07 December 2020

If RCM is paid late, you must have deposit alongwith interest. But after you have paid you can claim its ITC.

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On 07 December 2020 at 17:47
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Accountant
3662 Points Posted on 07 December 2020
You can claim ITC on RCM

No issue if you filed September Month Return
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On 07 December 2020 at 19:00

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