We paid rcm on freight
Our client fall into inverted duty refund
Can we claim refund of rcm too ( both registered GTA and unregistered GTA)
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Rcm refund claim include in inverted duty refund claim
Replies (3)
Quick Summary
Pls explain gta is one thing. inverted duty ix another aspdct.
We are manufacturer our purchase @ 18% and sale @ 5% and we paid rcm on Freight. so my question is can we refund claim including rcm tax only tax paid on goods only
RCM paid on freight in an inverted duty refund:
• Inverted duty refunds (Sec 54(3)(ii), Rule 89(5)) include only ITC on inputs (goods). Input services (including GTA freight paid under RCM) are excluded from "Net ITC" (VKC Footsteps, SC 2021). So ITC of RCM paid on freight isn't refundable under inverted duty.
• RCM tax paid in cash itself isn't refundable (it's a tax liability, discharged correctly).
• The RCM ITC can be used against output tax.
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