Rcm igst paid and credit for that taken agst sgst
This query is : Open
Guest
Guest
(Querist)
28 September 2017
I have observed one case in which party in his books of account pass entry for rcm for july month of igst paid. And he had taken that credit for sgst. Is it proper? And if yes then how can we do it in online return?
28 September 2017
Yes you can do so.
Firstly you have to pay IGST in cash.
Then claim credit of same in GSTR-2.
Same credit will be availble to offset you tax liability & as per provision IGST credit set off from SGST also...
29 September 2017
Yes... You can set off it to CGST and SGST also IGST....
But, RCM related liabilities pay first as Cash...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Gst Sales of FY 2023-24
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- GST Annual Returns filing due date
- Payable outstanding for years disallowance
- TDS applicability on Service through ECO
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
