Hi,
Under GST, input of RCM can be taken in the month of entry or in the month of payment?
Also, above rule will be applicabe for both service and supply?
Thanks
RAMESH D MODI
(Proprietor)
(4869 Points)
Replied 30 August 2017
RAMESH D MODI
(Proprietor)
(4869 Points)
Replied 30 August 2017
Sanjeev
(Auditor)
(153 Points)
Replied 30 August 2017
Off course, payment of tax is done. Now, we can take input on the month in which entry was passed. Right?
Balakrishnan
(Proprietor)
(342 Points)
Replied 30 August 2017
Proof of payment arises only after filing monthly return. viz., output tax - itc if negative pay RCM by cash and make appropriations in gstr 3b or 3 as the case may be. After filing of the above returns, it becomes conclusive proof RCM paid in cash. So practically, ITC on RCM possible only in the next month
Subhash Mishra
(STUDENT & GST PRACTICENER)
(39 Points)
Replied 31 August 2017