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Rcm on bank
hello everyone
this month i was doing service tax calculation of bank in which bank has availed legal expense on which he has to pay rcm 100%, my question is whether bank can take full credit of it or as per cenvat rules only 50% credit can be taken
please reply fast
Replies (3)
Please provide full descripttion of expense.What do you mean by rcm?
Bank has used services of a security agency on which bank has to pay RCM can bank take full credit of it after paying RCM to the government
RCM means reverse charge machanism
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