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Notification 22/2019(RCM)
Dear Member, As per above notification we are received Bus Service(More than 14 seaters) from non body corporate entity and also we are paying tax on RCM(5%) tax rate, is my company eligible for ITC of that rcm tax amount as per new notification. please suggest.
Replies (2)
Yes offcourse you are eligible for ITC on payment deposited against RCM.
(Can refer Definition of Input Tax u/s 2(62) & 2(63)of CGST Act)
(Can refer Definition of Input Tax u/s 2(62) & 2(63)of CGST Act)
Yes... You can claim ITC for the rcm paid amount.
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