Section 16(4) vs RCM

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..... Section 16(4) vs RCM
Query (Issue) Started By: - NARENDER YARRAGORLA Dated:- 26-2-2022 Last Reply Date:- 2-3-2022 Goods and Services Tax - GST
Got 5 Replies
GST
For the FY 2020-21, we hav .....

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..... e failed to pay RCM on Freight, Can we pay and claim ITC in FY 2021-22 sir Reply By PAWAN KUMAR: The Reply: Dear sir, As per my view, since services of Transportation received during 2020-21, Payme .....

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..... nt of which already made during FY 2020-21 but GST only left to pay to Govt. Hence acutal time for payment was already lapsed. now you need to pay along with interest and you may claim ITC of GST amo .....

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..... unt paid, restriction under section 16(4) will not apply. Only there will be interest expense. Reply By Amit Agrawal: The Reply: Please see discussion under Issue Id: - 117652 Reply By PAWAN KUMAR: .....

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..... The Reply: dear sir, i read your reply, it is absolutely fine, ITC is admissible on payment, in case of RCM. Reply By KASTURI SETHI: The Reply: Chances are bleak without litigation. Reply By Sh .....

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..... ilpi Jain: The Reply: If the other party is the tax department, many things chances are bleak. But the taxpayer can considering his risk appetite take the other way to challenge department of require .....

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..... d.
Discussion Forum - Knowledge Sharing .....

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