RCM question

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19 Points Posted on 16 June 2023
Dear All

can we pay rcm and take inputs of fy 22-23
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On 16 June 2023 at 20:49 Report
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Quick Summary
This discussion clarifies the Reverse Charge Mechanism (RCM), where the recipient pays tax directly to the government. It confirms that RCM for FY 22-23 can still be paid, along with applicable interest, and the Input Tax Credit (ITC) can be claimed. This payment and ITC claim must be completed by 30th November 2023.

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GST Practitioner & Accounts
15146 Points Posted on 16 June 2023
What is the date of Invoice ?. or purchase from unregistered self Invoice date ?.
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On 16 June 2023 at 21:47
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2 Points Posted on 17 June 2023
Rcm meaning
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On 17 June 2023 at 14:25
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GST Practitioner & Accounts
15146 Points Posted on 17 June 2023
RCM means - Reverse Charge Machanism , in this Case tax is paid in Govt account by the receipent of Goods or services .
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On 17 June 2023 at 20:06
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GST Consultant
15986 Points Posted on 18 June 2023

If the supply is of FY 22-23 then yes you can pay RCM now along with interest and take ITC of the tax portion. This you can do till 30th November 2023

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On 18 June 2023 at 23:22

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