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TMI BlogCan avail input same month on RCM paidX X X X Extracts X X X X X X X X Extracts X X X X ..... Can avail input same month on RCM paid X X X X Extracts X X X X X X X X Extracts X X X X ..... making the Cash payment of Tax Under RCM. Reply By KASTURI SETHI: The Reply: Sh.Sharma Ji, Agree with you. There is no doubt. There was a lengthy discussion regarding whether ITC can be taken after crossing one month from the date of payment in cash or from the date of invoice under RCM. Do you remember ? If so, clear my doubt citing Rule etc. Reply By Ganeshan Kalyani: The Reply: This top ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ic has been discussed previously. The credit on RCM payment can be availed in the same month. Reply By SHIVKUMAR SHARMA: The Reply: Respected Shri Kasturi Ji. Rule 36 of CGST Rules Perscribes Documentary requirements & conditions for claiming Input tax credit. Rule 36(1) Perscribes the documents which shall form the basis for claiming input tax credit.As per section 31(3)(f),the registered reci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pient paying tax under RCM ,has to issue Invoice in respect of goods/services received by him from an unregistered Supplier.According to sub clause(b) to rule 36(1) Invoice issued in accordance with provisions of Section 31(3)(f) of the CGST Act, subject to payment of Tax is eligible document for Claiming credit of input tax. It is clear that by virtue of Rule 36(1) Invoice raised by the recipien ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is the eligible document for claiming credit of tax paid under RCM But rule also imposes condition for payment of tax. Nonetheless it is Inportant to note that in case of tax charged by the Supplier,the Tax invoice issued by the supplier is the eligible document for claiming credit.The claim of credit by the recipient ,in GSTR-2 is on provisional basis and gets finalised after matching of retur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns which is again subject to payment of tax by the supplier. In line with the above an argument can be taken that in case of tax under RCM,Invoice issued under section 31(3) (f) is the eligible document for claiming credit.The credit of tax payable under RCM can be claimed by the recipient ,in GSTR-2 on provisional basis and the same gets finalised only after the payment of tax by the recipient. ..... X X X X Extracts X X X X X X X X Extracts X X X X .....
Reply By KASTURI SETHI:
The Reply:
Thank you Sharma Ji for comprehensive reply. I am also thankful to Sh.Kalyani Ji.
Reply By koushal sharma:
The Reply:
Yes, you can claim input within the same month of RCM payment
Know related faq here: GST Forum India X X X X Extracts X X X X X X X X Extracts X X X X
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