RCM Payment

Page no : 5

RAJA P M ("Do the Right Thing...!!!") (127299 Points)
Replied 03 October 2017

Adjustable is available as the figure of amount in previous return...
In case it's same month transactions based adjustment then it's not Correct....

anshul aggarwal (Consultant) (1074 Points)
Replied 03 October 2017

I am not proving you anything. I know my capabilities and I am here to learn and not show my arrogance in accepting the facts.

anshul aggarwal (Consultant) (1074 Points)
Replied 03 October 2017

I hope this will help others who are ready to learn

RAJA P M ("Do the Right Thing...!!!") (127299 Points)
Replied 03 October 2017

okay enjoy yourself...
It's not like that me any related...

Amit Mohan Pandey (Practising chartered accountant) (371 Points)
Replied 04 October 2017

Hang on guys,

RCM paid will be available ITC same month, Provided you have paid same month. in given case. Payment of 5000 through challan or net banking has to be done. and 4500 can be claimed from 5000 paid.

Actully case is RCM has to be paid through cash ledger.Once it is paid then it will be available in credit ledger.

First we have to clear our RCM liability.

Even if instead of 30.09.2017 , RCM paid on 20.10.2017 then still challan will be made for 5000 and 4500 will be claimed on same date.

i hope..it helps

anshul aggarwal (Consultant) (1074 Points)
Replied 04 October 2017

yes you are right even if challan is paid by 20th of next month it is considered payment on time and ITC can be claimed.

1 Like

CA Rashmi Gandhi (Chartered Accountant) (86285 Points)
Replied 04 October 2017

Even you paid on 20.10.2017 you will get credit of same.

Ajay Prajapati (512 Points)
Replied 05 October 2017

anyone open gstr 2 ..... where we have to fill illigeble and inillegible ITC .... so everyone manuculate himself RCM ITC how its possible whenever we not submit gstr 2 .... the rule we get ITC on RCM in same month is applicable when we return properly like in repectivally 1 2 and 3 then we get ITC same month in GSTR 3b how we manuculate we have to fill gstr 2 our RCM payament its not a simple sale or purchase that we can easily manuculate like outward and inward and try it in any accounting software make a entry on RCM payment and show his ITC on same month after it check your gstr 3b ....

Amit Mohan Pandey (Practising chartered accountant) (371 Points)
Replied 05 October 2017

hello everyone,

Principle send goods to jobworker for jobwork.

Both person registered in same state(Haryana) under gst.

Now principle telling jobworker to send goods direct to chennai HQ along with job charges bill. Now question arise, can jobworker does so as goods belong to Haryana principle and invoice making to chennai HQ.

Read more at: https://www.caclubindia.com/forum/details.asp?mod_id=428708&offset=0