RCM paid on ocean Freight - ITC Availment



We have not paid RCM on ocean freight for FY 2017-18. Now, we need to pay RCM on ocean Freight.

Please suggest that ITC shall be availed on RCM paid on ocean Freight during current year I.e., in May 2019
 
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"Do the Right Thing...!!!"

Yes... Pay the Rcm amount with interest after claim as ITC.
 
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ITC can be claimed in tax paid for RCM

Total likes : 3 times

 
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No Itc not available. due date of taking credit for FY 2017-18 is 31.3.19
you can only pay taxes, interest, penalty, fee, fine. But u can't claim credit
 
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Chartered Accountant

FY 17-18 RCM can only be paid and is not available as ITC now.

 
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if the supplier of the service located in non taxable territory (place outside India/) you hab eto pay IGST 5% under rcm and take credit ...


of the service provided by person in non taxable territory to a person in non taxable territory, credit for tax charged in goods (other than ships, vessels etc) not be taken

Total likes : 2 times

 
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