RCM on import service FY 17-18

RCM 273 views 1 replies
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accountant
454 Points Joined July 2013

RCM not paid on Old import service invoice FY 2017-18

Can we pay RCM now and take ITC in FY 25-26.

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On 19 June 2025 at 20:37 Report
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Master in Accounts & high court Advocate
9434 Points Joined December 2011

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.

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On 19 June 2025 at 21:53


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