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ITC under RCM on Rent paid
We paid Rent in July, owner is individual hence RCM applies then when should we take ITC, in same month i.e., July or in next month.
Replies (2)
ITC can be claimed on rent paid under RCM. 18% is GST rate.
in your case NEXT month
in your case NEXT month
RCM liability is to be discharged in cash within 20 days of the end of the concerned month. The input tax credit of the same shall be availed in the next month i.e. in the month of August.
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