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RCM Payment

RCM 2318 views 68 replies
kindly assist me
RCM Liability as on 30.09.2017 is rs 5000.00
deposited on 30.09.2017
Output gst on sale rs. 4500.00
now can I adjust rs. 4500 on 20.10.2017 as balance available in cash ledger is rs. 5000.00
Replies (68)
No....
You ll be pay the amount Rs 4500...
Yes you can adjust ITC of RCM paid from Output GST...
How is it possible CA Rashmi Gandhi...?!
He ll pay September transaction and also file September transaction on 20th October.....
Yes it is possible. In same month you will take input tax credit of the RCM of Rs. 5000 paid in GSTR3B. That will go in your electronic credit ledger and can be used to offset output tax liability if Rs. 4500=00. And still balance of Rs. 500 will be there.
No way...
Also not available in GSTR 3B...
With due respect before rejecting some one answer try it. I am saying something based on practical application and not just books.
If RCM liability is paid then you can claim ITC of same......
Agreed with Anshul Aggarwal

I also do it practically
amit,
If you deposit your rcm liability anytime before 20.10.17 I.e. before filing return then also you are eligible for this tax adjustment.

Okay Enjoy Mr. Anshul Agarwal for your practical knowledge. Also with CA Rashmi Gandhi's agreed..

i'm also enjoy my books knowledge...

 

But, Simply show here it your adjustments in GSTR 3b as Practically...

 

Originally posted by : anshul aggarwal
Yes it is possible. In same month you will take input tax credit of the RCM of Rs. 5000 paid in GSTR3B. That will go in your electronic credit ledger and can be used to offset output tax liability if Rs. 4500=00. And still balance of Rs. 500 will be there.

You ll show the PRACTICALLY adjustments here...

Originally posted by : CA Rashmi Gandhi
Agreed with Anshul Aggarwal I also do it practically

You can show it practically...?

so you still believe that it cannot be done.

VERY TOO MUCH WORDS OF  'PRACTICALLY & JUST BOOKS"


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