Month in which rcm input tax credit paid to be utilized

you can claim Rs.1000 in the month of January 2019.

Hi Mr Sanju,

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 ITC on RCM can be claimed on the same month in which you are making payment of RCM tax liability.


Thanks,
CA Nishant Maheshwari
Your GST Friend
Cont:9650377404

Same month credit can be taken.

In same Month itself you can claim credit.there is no restrictions.

@ nishant kumar (CA Nishant Maheshwari)

Hi Nishant,

Please clarify below...

1) In the above case of "Sanju.P (CA Practice)", ITC on RCM of Rs.1000/- can only be claimed in the Feb-2020 GRTR-3B?

2) Here the "SAME MONTH" means not the month FOR which month you are making payment of tax through GSTR-3B, but IN which month you are making payment through GSTR-3B. That is, if making payment of tax FOR January IN February, then, the ITC can be claimed IN February.

 

Thanks & Regards,

Mahesh Puthanikar