RCM U/S 9(3) Scrap Supply


CA Naveen Chhaparwal (Practise)     10 October 2019

CA Naveen Chhaparwal
Practise 
 43 points

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Certain RCM liability for the FY 2017-18 is not paid till date covered u/s 9(3) scrap and waste supply of reverse charge. Now during the course of GST audit, the liability is identified and the client is willing to pay. My question is can we take input of the same in FY 2019-20 or anywhere so input avail. I very well understand that there is a time limit till 31/03/2019 to claim inputs. However this is a different case as my eligibility to claim input arises only upon payment of RCM in cash. I am trying to take a stand that time limit for claiming ITC does not apply to belated tax paid under RCM. Need your inputs. Kindly Suggest what best possible way for it

avater

CA Dhruva Kalamanji (Chartered Accountant )     10 October 2019

CA Dhruva Kalamanji
Chartered Accountant  
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Hi Naveen,

Even my stand is same. RCM Input is linked with RCM output so the month you declare your output rcm liability to be consider for time limit calculatuon purpose.

Additional point to be consider is on rcm output liability interest is applicable dor delay

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CA Naveen Chhaparwal (Practise)     10 October 2019

CA Naveen Chhaparwal
Practise 
 43 points

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Can i give all effect in sep 2019 gstr 3b or whst else kindly send me msg your contact no. on 9799648484 so doubt resolve

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CA Dhruva Kalamanji (Chartered Accountant )     10 October 2019

CA Dhruva Kalamanji
Chartered Accountant  
 67 likes  1492 points

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If you have already filed previous month return then show everything in sep return only. any ways interest amount will be same.

in my view no need to deffer further.

note this transaction as a reconciliation item in annual return.


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