Sir
Please clear my doubt regarding payment of rcm under gst through cash. supposed my rcm liability for the month of July is 15k. then how I will deposit it. because limit is only 10k
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Rcm liability under gst through cash
Replies (6)
If the payment exceeds Rs.10000, payment by other modes such as net banking, DEBIT CARD, credit card etc. are available.
But is it mandatory that payment of rcm liability under gst will be paid by cash only. Every experts told me that rcm liability will be paid by cash only
Cash in the sense you should not use input tax, pay total RCM and not the form like cash, net banking or cards.
RCM is paid by cash ledger in which cash is loaded by net banking, credit card, debit card
Means any other mode we can make payment of rcm liability cash, net banking etc
Yes RCM is paid only by cash ledger and not with ITC available in credit ledger
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