rcm itc
ankit bokadiya (3 Points)
17 September 2017
rcm amount paid ka input credit kab le sakte hai
9 Replies
Ashish Garg
(Consultant - GST)
(844 Points)
Replied 17 September 2017
In terms of section 41 (1) of CGST Act, 2017 You can take the said credit in the same month in which the supply is received on provisional basis. However, RCM liability need to be paid in cash in terms of section 41(2) read with section 2(82)
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 17 September 2017
As per reply on twitter by GST Deptt, ITC available when RCM is paid by registered person means if paid in same month then only allow.
Ashish Garg
(Consultant - GST)
(844 Points)
Replied 17 September 2017
Is there any legal validity of twittes by department mam...
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 17 September 2017
As per my view.,
we can't get extra benefits for RCM related payments...
We only get the ITC as RCM related inwards and reflect in liability and Input....
(RCM related payments dealt as per "Depreciation & SB account Interest in Income Tax". The same rules on RCM)
So, we can't get extra benefits for RCM related payments.....
we can't get extra benefits for RCM related payments...
We only get the ITC as RCM related inwards and reflect in liability and Input....
(RCM related payments dealt as per "Depreciation & SB account Interest in Income Tax". The same rules on RCM)
So, we can't get extra benefits for RCM related payments.....
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 17 September 2017
100% legal validity as date is also extended by cbec through twitter
Ashish Garg
(Consultant - GST)
(844 Points)
Replied 17 September 2017
Dear Mam, cbec had issued notification for date extension... Twitter is just a way of announcement.
I am asking that do these kind of twittes will supersede the law.
Legally there is no any bar on taking the credit in the month of receipt of supply) . (refer section 41 of cgst law)
I am asking that do these kind of twittes will supersede the law.
Legally there is no any bar on taking the credit in the month of receipt of supply) . (refer section 41 of cgst law)
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 17 September 2017
Yes but what is said on twitter become law in some tym by gst deptt. So we have to follow them.
Rahul Sharma
(-)
(28 Points)
Replied 17 September 2017
u can take the itc paid under rcm in same month
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 17 September 2017
It is also a gateway to directly solve queries of registered peraons.
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