saikrishnateja (articleship) (17 Points)
13 March 2018please clarify that NBFC opted for 50% input option under section 17(4) read with rule 38 of GST Act, can claim full input paid under reverse charge basis(RCM) or 50% rule also applies to RCM credit
Gautam Mullick
(Desk Officer (Finance & Accounts))
(22 Points)
Replied 13 March 2018
abhilash
(student)
(411 Points)
Replied 13 March 2018
I THINK YOU CAN CLAIM 50% CREDIT IN RCM AS THE ACT DID NOT PROVIDE ANY EXCEPTION
THE WORDINGS OF THE ACT WAS: an amuount eqaul to 50% of the eligible input tax credit on inputs,CG,input services in that month.
CAclubindia
