if a regd person is paying tax under rcm ,, then can he take itc ..?
plzz elaborate with example
and plz dont copy paste from net onlyy
i had seen on net but not understood
plzz rlyy
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reverse charge
Replies (2)
yes he can take ITc.
ex.. if we take service from outside india then registered company in india liable to pay tax under RCm
first show inGstr3b in inward supply liable to reverse charge and pay tax accordingly and claim ITc
ex.. if we take service from outside india then registered company in india liable to pay tax under RCm
first show inGstr3b in inward supply liable to reverse charge and pay tax accordingly and claim ITc
Generally the Tax is paid by supplier but in Reverse charge the Recepient is liable to pay tax under Reverse charge .
Hence the credit of tax payable & paid under RCM can be claimed by the recipient
(Refer section 2(98) CGST Act)
Hence the credit of tax payable & paid under RCM can be claimed by the recipient
(Refer section 2(98) CGST Act)
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