Menu
RCM Paid by NBFC
NBFC Under Rule 38 reversal of ITC 50% is applicable on ITC taken on RCM
Replies (1)
YES.
For an NBFC, the 50% ITC restriction under Rule 38 applies even to ITC arising from RCM, unless the NBFC opts for the proportionate reversal method under Rule 42.
Recent Threads
- Regarding Annual Return for 23-24
- Property registration without physical PAN card
- Paying Rent in Cash: This Could Trigger an Income
- Market Down, Portfolio Down: Need suggestions for
- How much tax is payable If I withdraw my mutual fu
- GST Penalty Provisions under Section 73 vs Section
- How VFA Academy Helps Traders Build Discipline and
- GSTR-3B Relationship
- Section 194T: TDS on Payments to Partners: Applica
- Tax planning with HUF
Related Threads
CAclubindia
