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
6 Replies
Srinivasan Chokkanathan
(199 Points)
Replied 28 July 2017
If the payment exceeds Rs.10000, payment by other modes such as net banking, DEBIT CARD, credit card etc. are available.
rajeev khulbe
(accoutant)
(186 Points)
Replied 28 July 2017
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
Dileep Kumar Balumuri
(6 Points)
Replied 28 July 2017
Cash in the sense you should not use input tax, pay total RCM and not the form like cash, net banking or cards.
Sandeep Upadhyay
(1518 Points)
Replied 28 July 2017
RCM is paid by cash ledger in which cash is loaded by net banking, credit card, debit card
rajeev khulbe
(accoutant)
(186 Points)
Replied 28 July 2017
Means any other mode we can make payment of rcm liability cash, net banking etc
Sandeep Upadhyay
(1518 Points)
Replied 28 July 2017
Yes RCM is paid only by cash ledger and not with ITC available in credit ledger
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