rcm gst payment
CA Piyush Shivani (...) (137 Points)
13 August 2017
can we use itc for payment of gst under rcm or we have to pay in cash rcm gst tax.
31 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86495 Points)
Replied 13 August 2017
Firatly you have to pay in cash/cheque then you will get ITC of RCM.....
NAGESWARAN
(ACCOUNTANT)
(834 Points)
Replied 13 August 2017
@ CA RASHMI GANDHI
expenses on july month. rcm payment on aug 17. in which month we will claim itc
expenses on july month. rcm payment on aug 17. in which month we will claim itc
NAGESWARAN
(ACCOUNTANT)
(834 Points)
Replied 13 August 2017
@ CA RASHMI GANDHI
expenses on july month. rcm payment on aug 17. in which month we will claim itc
expenses on july month. rcm payment on aug 17. in which month we will claim itc
NAGESWARAN
(ACCOUNTANT)
(834 Points)
Replied 13 August 2017
@ CA RASHMI GANDHI
In august itself means.. claiming in aug month return filing..aug month return due is sep its ok..pls clarify clearly
In august itself means.. claiming in aug month return filing..aug month return due is sep its ok..pls clarify clearly
CA Rashmi Gandhi
(Chartered Accountant)
(86495 Points)
Replied 14 August 2017
Sorry. You can claim ITC in July month.......
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 14 August 2017
But, You ll be pay interest on that RCM tax payment.....
NAGESWARAN
(ACCOUNTANT)
(834 Points)
Replied 14 August 2017
@ RAJA P M
Sir..why interest to be payable.let i know what is due date for RCM payment without interest. pls clarify sir
Sir..why interest to be payable.let i know what is due date for RCM payment without interest. pls clarify sir
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 14 August 2017
Due date for the RCM related tax payments is the date of transactions and receipt/booking of transaction.....
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 14 August 2017
If you purchased goods on 31st July also you have received the material and bills on 31st you pay Tax on 31st...
Your employee ll be receive any supplies on travelling for the period of 10th July to 15th July. He ll reach in office on 17th July and give the details on 17th. Some bills received from URD on 13th. But, He give the details on 17th and you account it on 17th. Then you ll be pay Tax on 17th July....
If you don't pay on 17th then you calculate interest 18% after the payment date....
Your employee ll be receive any supplies on travelling for the period of 10th July to 15th July. He ll reach in office on 17th July and give the details on 17th. Some bills received from URD on 13th. But, He give the details on 17th and you account it on 17th. Then you ll be pay Tax on 17th July....
If you don't pay on 17th then you calculate interest 18% after the payment date....
CA Rashmi Gandhi
(Chartered Accountant)
(86495 Points)
Replied 15 August 2017
Raja No interest is payable on such transaction......
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