We have not paid RCM on Ocean freight for f.y 18-19.
We have also filled annual return and audit report.
Can we pay now with interest and take ITC credit.
7 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 24 January 2021
Yes you can but you might be asked by dept. officials
akshay parakh
(Chartered Accountant)
(394 Points)
Replied 25 January 2021
Yes you can pay with int and claim itc on reverse charge there is a press release for the same by govt also
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 26 January 2021
Kindly refer Press Release dated 03/07/2019
vikram kerekar
(1244 Points)
Replied 27 January 2021
In case of prepaid ocean freight this also applicable in rcm or what?
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 27 January 2021
In term of Section 13 (3) of CGST
The date of payment as entered in the books of account of the recipient or the
date on which the payment is debited in his bank account, whichever is earlier.
So yes it's Applicable
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