RCM ON INWARD SUPPLIES
Vijay Mohan (637 Points)
19 April 2021but my client not claimed any ITC.
SHALL HE LIABLE TO PAY.
IF he does not pay there is variance in gate 3b.
shall he file gate 3b without paying.
Vijay Mohan (637 Points)
19 April 2021
CA Puja Sharma
(Chartered Accountant)
(4995 Points)
Replied 19 April 2021
Yes, if there is no RCM liability then no need to pay and claim the ITC.
Submit the return with red highlighted figures.
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 19 April 2021
If such transactions do exist in the books of the the registered person as well, then such person is liable to pay GST under RCM and avail ITC, though net effect would be the same.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India