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Query regarding RCM

aswinichari (Student CA IPC / IPCC) (23 Points)

19 April 2021

RCM on inward supplies is shown in GST 2B and same may be highlighted in GST3 B , we declare in 3B gate way, but i have query of claiming the ITC of RCM on same month or in subsequent file period???

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4 Replies

prasad Nilugal (3914 Points)
Replied 19 April 2021

For RCM one has to prepare Self Invoice , who pay tax on reverse charge , same you have to file in GSTR1 and will be reflected in GSTR2A /2B ,after reflection you can claim credit .

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 19 April 2021

Agree with Prasad

CA ABHAY GUPTA (Practice) (3230 Points)
Replied 19 April 2021

Practically self invoice is not available it is theoretical only meaning by if you put your GSTN in your GSTR1 system doesn't accept it, thus practically we are claiming ITC in the month we pay RCM.

Ignore prompt on liability for inward supplies attracting reverse charge in Table-3.1 (d)” as said by CBIC
It is noticed that the system is giving alert when the taxpayer revises the auto-populated values upward by 10% in table 3.1(d) which pertains to inward supplies attracting reverse charge. This alert is erroneous. The technical team is working to resolve the same at the earliest.
Meanwhile, the taxpayers may kindly continue to declare their correct liability in Table-3.1(d) pertaining to liability on inward supplies attracting reverse charge and proceed to file GSTR-3B