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RCM missed, how to pay & claim now?

ITC / Input 1570 views 3 replies

Repairs labour bill with material from URD supplier in Aug24..

Aug-24 – RCM was missed in (FY24-25). Quarterly filer of GST.

Now discovered the error.

Can we pay RCM now and claim it back in Q1 returns of FY25-26, which we will file now.

How to pay the RCM amount?

How to claim it back in current returns of June ending Quarter?

Please guide.

Replies (3)
Quick Summary
RCM missed for Aug 2024 can be paid now via GST portal. ITC can be claimed in current returns after payment. Interest at 18 percent may apply from due date till payment. Calculate liability, pay tax, then claim ITC in eligible period.

  1. Determine the eligibility for RCM payment: According to the goods and services tax rules, RCM can be paid voluntarily even after the due date, but it is esential to ensure that the payment is made before filing the GST returns for the current quarter. 
  2. Calculate the RCM amount: You need to calculate the RCM amount besed on the repair labour bill and material supplied by the URD supplier in August,2024.
  3. Pay the RCM amount: The RCM amount can be paid through the GST portal using the "Payment of Tax" option under the "Services" tab. 
  4. Claim the RCM amount in GST returns.: You can claim the RCM as input tax credit in the returns for the current quarter ending June,2025.

Thank you Mr. Rama Chari Rachakonda ji for your clear reply.

One thing more I would like to know, do we have to pay interest on RCM amount from Aug-24 to July-25, considering we will pay the amount today i.e. 3rd July 25.

please guide.

  1. Understand GST Interest calculation rules: Interest is calculated on a daily basis. For delayed payment of tax , interest is charged @ 18% per annum.Interest is calculated from the due date of payment till the date of actual payment.
  2. Determine the due date for RCM payment: The due date for RCM payment is typcally the 20th of the next month. However, since the exact due date is not provided in the question, let us assume it is the 20th of each month for simplicity. 
  3. Calculate interest period:
  4. Start date:August 24 and end date (payment date) : July 3, 2025. 
  5. Based on the assumption that the due date for RCM payment is the 20th of the next month and considering the payment is made on July 3, 2025, no interest would be payable on the RCM amount from Augut 24 to July 25 as the payment is made before the due dae for July. 


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