ITC on royalty paid through RCM
Ashutosh garg (7 Points)
16 September 2019Ashutosh garg (7 Points)
16 September 2019
Pankaj Rawat
(GST Practitioner)
(55030 Points)
Replied 17 September 2019
Jeetu Kodwani
(Consultant)
(412 Points)
Replied 15 January 2020
Pankaj Rawat
(GST Practitioner)
(55030 Points)
Replied 15 January 2020
DEAR JEETU
THE QUERY WAS "RCM ON ROYALTY" YOU DID NOT DEFINE THE ROYALTY PAID IN RESPECT TO WHOM. IE THE ROYALTY ALSO PAID IN MINING.
ANYWAY, YES YOU ARE CORRECT, IN TERM OF SECTION 17(2) OF CGST ACT NEED TO REVERSE, BUT YOU HAVE TO PASS 2 ENTRIES FOR SAME . FIRST REPORT IN TABLE 4(A)(5) AS INPUT & AT THE SAME TIME NEED TO SHOW REVERSAL IN TABLE 4(B) OF GSTR 3B
Jeetu Kodwani
(Consultant)
(412 Points)
Replied 15 January 2020
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