For body corporate,
RCM was paid, now ITC can be claimed on that?
CA Rashmi B
(Assistant Manager)
(787 Points)
Replied 08 July 2020
Vijayprakash P
(1313 Points)
Replied 08 July 2020
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 08 July 2020
No ITC is not allowed of the tax paid under RCM on cab hiring charges. It is specifically blocked under 17(5) point b.
yash
(accountant)
(519 Points)
Replied 08 July 2020
SECTION 17(B)- Provided that the input tax credit in respect of such goods or services or both shall be available, where it is obligatory for an employer to provide the same to its employees under any law for the time being in force.
Car hire expenses was paid and also RCM also been paid.
and car hire charges has been paid by employee and then reimbursement done from employer.
as per sec17(b)-ITC is available on all expenses paid by employer to employee
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
