SANDEEP JAIN (Tax Consultant) (487 Points)
17 August 2017
Neha Jain
(Chartered Accountant)
(1085 Points)
Replied 17 August 2017
RCM liability of july will be paid in cash to govt in august month.... after that you can claim ITC of that
NAGESWARAN
(ACCOUNTANT)
(834 Points)
Replied 17 August 2017
SANDEEP JAIN
(Tax Consultant)
(487 Points)
Replied 17 August 2017
yup
but my question is shall i take the credit in the month of july or in the month of august
as RCM of july paid in august. liability shown in july, but GST paid in august
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1443 Points)
Replied 17 August 2017
See, here ITC is available once you paid the RCM to the Govt.
If RCM paid to Govt. in 20th Aug 2017 of the outstanding amount of July 2017. the ITC is available in the month of Aug 2017.
Kapil Porwal
(4 Points)
Replied 17 October 2017
can claim the credit of such RCM liability in the same month of return, and you have to show it in both columns i.e. 3.1 (d) and 4 (A) (3) of GSTR-3B.
Kapil Porwal
(4 Points)
Replied 17 October 2017
this not logic ............ bocz supplier is also paying tax in august ........ but client can claim in july month only.
CAclubindia
