Dear Experts.,
In GSTR-2A showing all B2B invoices which is filed by our Suppliers...
But, What is the exact effect for the ITC of RCM related. It's not available in GSTR-2A. Then How can we manage these ITCs
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Rcm related itc in gstr 2a
Replies (5)
RCM is a mechanism which is used to pay taxes instead of the supplier who is not a registered person in GST regime, Adding to this you can't claim ITC for RCM payment and i will not be reflected in GSTR-2a. I suggest you to reverse all the ITC availed ASAP.
ITC of GST paid under RCM will not reflect in GSTR 2A. ITC of GST under RCM can be availed provided if it is paid in 3B.
Tax paid under reverse charge could be claimed as credit in GSTR-3B. It will not appear in GSTR2A as the supplier may or may not be registered under GST for example advocate/ director/ GTAl. If you have paid the tax through 3B then credit cannot be denied provided it is eligible.
ITC on the tax that is paid under RCM will be available only after making payment. Hence, it will be available in the month in which the RCM has been admitted and paid and filed the necessary return.
If you have paid the tax through GSTR-3B then credit can't be denied.
I transported some material from Gujrat to Kerala through the GTA, namely, ARC. In the GC note it is mentioned that I must pay GST under RCM. It can be paid through GSTR3B. Since the material was brought for resale, I can avail ITC also. Should I post this outward tax liability in my GSTR1. If so , how , when and where I should declare this in my GSTR1. ARC is registered under GST and I have not received any invoice from them except GC note.
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