Suppose, My IGST liability for July is Rs. 38000 on sales
And I had paid rent which consist of Rs. 21000, CGST & SGST each, which makes it total to Rs. 42000
Now, can I adjust my IGST liability on sales with my Input CGST & SGST on rent?
Please note that Rent Receiver is registered and issues rent bill with calculations of CGST & IGST. Hence, I think RCM will not apply here
2 Replies
CA Akhilesh Kumar Kandpal
(Proprietor A K Kandpal & Associates)
(1442 Points)
Replied 05 August 2017
yes you can....igst liability can be adjusted from any type of gst.....read sec 49(5) for detail.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 05 August 2017
Yes. You ll be adjust your IGST liability to Your Rental inputs.
Yes You are exactly correct. No RCM affect above said way. We received supplies from Registered Dealer then we don't pay Tax under RCM....
Yes You are exactly correct. No RCM affect above said way. We received supplies from Registered Dealer then we don't pay Tax under RCM....
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