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Month in which rcm input tax credit paid to be utilized

Sanju.P (CA Practice ) (111 Points)

13 February 2019

Hi,

Please specify in which month RCM Input tax credit to be utilized in the following case:

Return Filing Month: January 2019

Due date for GSTR3B: 20.02.2019

Freight charges paid to GTA (Intra-State) in the Month of January : Rs.20,000/-

RCM GST paid on above Freight Charges: Rs.1000/-(CGST +SGST ) on 13.02.2019.

RCM Input tax credit of Rs.1000/- can be claimed in January Month Return filing or to be claimed in the subsequent Month Return Filing?

Thanks in Adavnce.

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5 Replies

CA.Pankaj Rawat (Chartered Accountant) (1381 Points)
Replied 13 February 2019

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

nishant kumar (4 Points)
Replied 13 February 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

Sivaraman A R (.) (1038 Points)
Replied 13 February 2019

Same month credit can be taken.

pritesh (CA Final student) (7101 Points)
Replied 14 February 2019

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

Mahesh Puthanikar (FINANCE & ACCOUNTS) (114 Points)
Replied 14 August 2020

@ 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