RCM on Software License from Foreign Company

This query is : Resolved

Harendra Rawat (Querist)
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14 May 2023 Dear Sir/Madam,
Good Morning,

We have purchased the software license from a foreign company & the company has no presence in India. Date of purchased 31.01.2023.

In this case, RCM (GST) will be applicable or not? If applicable, also interest will be paid. Can we avail the Input for the same?

Thanks

CA Altamush Zafar

CA Altamush Zafar (Expert)
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14 May 2023 If it gets covered in imports then yes RCM has to be paid along with interest. ITC can be claimed since period of limitation/prescription has not yet expired.