banner_ad

Payment in foreign currency

176 views 3 replies
User Avatar

709 Points Joined January 2017
hi, if we paid in foreign currency for the purchase of goods or services so we need to pay RCM on it.
0 Reply Share Follow
On 25 August 2020 at 11:47 Report
Replies (3)
User Avatar

Tax and Business Consultant
11616 Points Joined July 2015
Yes, if it's your import of Goods / services, than you are required to pay GST under RCM along with custom duty, applicable if any.
Reply
On 25 August 2020 at 11:54
User Avatar

709 Points Joined January 2017
We pay rcm on import then can we claim RCM refund.
Reply
On 25 August 2020 at 12:04
User Avatar

Tax and Business Consultant
11616 Points Joined July 2015
You can claim input tax credit ( ITC ) of GST paid under RCM for/on Import of Goods and Services.
Reply
On 25 August 2020 at 12:21

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details