RCM on Ocean freight

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Khadija (Student) 24 January 2021

We have not paid RCM on Ocean freight for f.y 18-19.

We have also filled annual return and audit report.

Can we pay now with interest and take ITC credit.

Aditi Kaur (Practising CA) 24 January 2021

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Sourav (Student) 24 January 2021

Yes you can but you might be asked by dept. officials

akshay parakh (Chartered Accountant) 25 January 2021

Yes you can pay with int and claim itc on reverse charge there is a press release for the same by govt also

Khadija (Student) 25 January 2021

Thanks a lot

vikram kerekar 25 January 2021

Can you pls send press release order

Pankaj Rawat (GST Practitioner) 26 January 2021

Kindly refer Press Release dated 03/07/2019

vikram kerekar 27 January 2021

In case of prepaid ocean freight this also applicable in rcm or what?

Pankaj Rawat (GST Practitioner) 27 January 2021

In term of Section 13 (3) of CGST

The date of payment as entered in the books of account of the recipient or the
date on which the payment is debited in his bank account, whichever is earlier.

So yes it's Applicable