RCM on import service FY 17-18

Payment of RCM and ITC Claim According to GST regulations, you can pay the RCM liability for past periods, but there are specific rules regarding ITC claims. Payment of RCM - *Payment of RCM*: You can pay the RCM liability for the FY 2017-18, but it's essential to consider the time limit and interest implications. ITC Claim - *Time Limit*: The time limit for claiming ITC is generally three years from the due date of filing the return for the period in which the ITC relates. - *Eligibility*: If you've paid the RCM liability, you might be eligible to claim the ITC, but it's crucial to verify the specific rules and regulations applicable to your case. Additional Considerations - *Interest and Penalties*: Paying RCM liability for past periods might attract interest and penalties. - *Documentation*: Ensure you have proper documentation, including invoices and payment receipts, to support your ITC claim. Consultation It's recommended to consult a GST professional or tax advisor to determine the specific implications and eligibility for ITC claim in your case.