ITC ON RCM
mayur dhoot (15 Points)
22 May 2017
dear friends can u tell me , how can we get credit on tax paid on RCM U/S9(3) & 9(4), CONSIDERING SECTION 17(2) & 17(3)
1 Replies
sanjay singhal
(59 Points)
Replied 22 May 2017
9(3) tax is payable by receipent if notified by govt.( even if supplier is registered)
9(4) tax is payable by receipent if supplier is unrgistered and receiver in registered
17(2) in case supllier provides exempted supply as well as taxable supply, ITC attributable to taxable supply is only eligible for credit.
17(3) exempt supply includes supply made on which recepient ia liable for tax under RCM.
us 9(3) supplier may be registered person. but supply may be taxable in the hand of recepient. in that case itc will not be availavle to supplier on input used in such supply.
it is my view
9(4) tax is payable by receipent if supplier is unrgistered and receiver in registered
17(2) in case supllier provides exempted supply as well as taxable supply, ITC attributable to taxable supply is only eligible for credit.
17(3) exempt supply includes supply made on which recepient ia liable for tax under RCM.
us 9(3) supplier may be registered person. but supply may be taxable in the hand of recepient. in that case itc will not be availavle to supplier on input used in such supply.
it is my view
Recent Topics
- GST ON REIUMBURSEMENT ENTRY ON GST PORTAL
- Missing invoice in gst
- GST on consultancy
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
- TCS adjustment
Related Threads
CAclubindia
