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Reversal of ITC on account of supplies made on which GST to be paid by recipient under RCM, Goods and Services Tax - GST

Issue Id: - 117914
Dated: 15-4-2022
By:- Rajesh Kumar
Reversal of ITC on account of supplies made on which GST to be paid by recipient under RCM

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Sir, a taxpayer engaged in supplies of service some of which are taxable under forward change but some are taxable under RCM where tax to be paid by recipients.

sir I want to know that the amount of supplies made on which tax to be paid by the recipients under RCM , is he liable to reverse the ITC under Section 17 read with Rule 42.

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Showing Replies 1 to 9 of 9 Records

1 Dated: 16-4-2022
By:- KASTURI SETHI

In thiis scenario, no reversal of ITC is required against the tax paid under RCM.


2 Dated: 16-4-2022
By:- KASTURI SETHI

With reference to my reply at serial no.1 dated 16.4.22, please read as under:-

"Reversal is required."


3 Dated: 16-4-2022
By:- KASTURI SETHI

For the provider of service, it is exempt supply.


4 Dated: 16-4-2022
By:- KASTURI SETHI

Under RCM, service recipient is deemed service provider. Service Provider is actual service provider. Turnover is always accounted towards the Service Provider's turnover. In this scenario, Service Provider (supplier) has not paid tax on his/her turnover (output value). Hence proportionate reversal of ITC is justified.


5 Dated: 16-4-2022
By:- Amit Agrawal

I agree with views of Shri Kasturi Sethi Ji!


6 Dated: 19-4-2022
By:- Ganeshan Kalyani

no tax on outward supply , no input tax credit allowed.


7 Dated: 21-4-2022
By:- SARTHAK MITTAL

ITC is required to be reversed as per Section 17(3) read with Rule 42/43


8 Dated: 21-4-2022
By:- Ravinesh Sinha

Reversal under Section 17 read with rule 42 is required only if exempted outward supply is made by tax payer . Otherwise not


9 Dated: 25-4-2022
By:- KASTURI SETHI

Under RCM, outward supply is exempt for the supplier/provider of service.


1

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