Shail Shah (Student CA Final ) (142 Points)
04 December 2017
Krishna Chaudhary
(Accountant)
(4531 Points)
Replied 04 December 2017
RCM can be taken in next month.
Shail Shah
(Student CA Final )
(142 Points)
Replied 04 December 2017
Rakesh Sarswath
(Article Student-GST Specialization)
(190 Points)
Replied 04 December 2017
RCM related credit can be availed in the same month as there is no specific proviso says that GST paid under RCM shall be availed in next month like what we had in service tax.
Shail Shah
(Student CA Final )
(142 Points)
Replied 04 December 2017
Rakesh Sarswath
(Article Student-GST Specialization)
(190 Points)
Replied 04 December 2017
Sir G,
Nowhere in section 16 to section 21 of CGST Act has specified about this but the only conditions for availing the ITC u/s 16(2) is
1) Receiver must be possession of tax invoice
2) He has received the goods or services.
Therefore if you have received the services then you are eligible for taking ITC int he same month.
CAclubindia
