RCM Applicability: Can I adjust the GST liability under RCM with my ITC?

This topic contains 14 replies, has 4 voices, and was last updated by  Manish Gambhir 1 week ago.

Viewing 15 posts - 1 through 15 (of 15 total)
  • Sudipto Dey
    Moderator

    Can I adjust the GST liability under RCM with my Input tax credit?

    Prashant

    No sir. As per Section 9(3) and 9(4), the businesses cannot adjust RCM with ITC. You have to debit your cash ledger, in other words, you have to pay the RCM amount.

    Shaktisinh Vaghela

    You have to pay your RCm liability in cash only and after payment you can show in ITC table under the head Inward supplies liable to reverse charge. After that ITC on RCM will be added to your Credit Ledger.

    Shaktisinh Vaghela

    You have to pay your RCm liability in cash only and after payment you can show in ITC table under the head Inward supplies liable to reverse charge. After that ITC on RCM will be added to your Credit Ledger.

    jagannath sharma
    Participant

    liability of RCM only paid in cash except in case where you have other output

    ANKIT NANDU

    GST Liability under RCM needs to be paid in cash and it can be adjusted against your other income liability only in the month in which the liability has been paid.
    For example – GST RCM of July paid in August, so RCM paid can be adjusted against August month normal gst liability only.

    jagannath sharma
    Participant

    RCM liability cannot be adjust with ITC. first of all we have to pay RCM then it will reflect respective ledger in your credit leder ie. SGST and CGST or IGST..

    CA UNMESH NARVEKAR

    RCM LIABILITY IS TO BE PAID IN CASH & THEN TAKE CREDIT FOR THE SAME.

    Varadharajan N
    Participant

    The credit for the RCM paid will be available only in the next month.

    CA.PRABHAKAR.G

    Yes GST liability under RCM must be paid even though you have enough or even excess ITC b/f .

    Anil

    In my opinion, one can adjust the GST liability under RCM with the ITC provided RCM liability must be paid in cash for the relevant period.

    CA JEET REWRI

    No, it must be paid in cash,
    however you can adjust the GST Paid on RCM in the same month for making payment of other gst liablity

    Poonam jain

    Pay the RCM in cash and you will get the input credit of the same which can be utilized to pay the output liability

    C.BALA RAMA PRAKASH

    RCM Liability have to be paid in cash and it can be adjusted as respective ITC in the same month.

    Manish Gambhir

    RCM has to be paid in cash and then ITC can be claimed

Viewing 15 posts - 1 through 15 (of 15 total)
Reply To: RCM Applicability: Can I adjust the GST liability under RCM with my ITC?
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