RCM BY ITC UTILISATION

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student
248 Points Posted on 16 June 2021
Hello,
can i pay RCM gst by utilising my available input?
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On 16 June 2021 at 20:09 Report
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Quick Summary
This discussion clarifies the payment method for Reverse Charge Mechanism (RCM) GST. It confirms that RCM liability cannot be settled using input tax credit (ITC). Instead, the RCM GST must be paid directly from your cash ledger balance.

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GST Consultant
15986 Points Posted on 16 June 2021
No .
you will have to make cash payment
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On 16 June 2021 at 20:18
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student
248 Points Posted on 16 June 2021
Thank u
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On 16 June 2021 at 20:19
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Chartered Accountant
24588 Points Posted on 16 June 2021
Make cash payment
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On 16 June 2021 at 20:50
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285 Points Posted on 17 June 2021
You will have to make cash payment
Available in cash ledger balance to be paid rcm
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On 17 June 2021 at 08:27
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Chartered Accountant
5010 Points Posted on 17 June 2021

No, RCM liability cannot be paid by ITC. It has to be paid in cash.

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On 17 June 2021 at 09:31

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