ITC in case of RCM paid after appointed date

[Mehul Pandya]

Dear sir,

We have paid ₹ 15,00,000/- Service Tax under R.C.M. for the month of June - 2017 on 05.07.2017 i.e. in July - 2017. Normally we were claiming the same as Cenvat Credit against our Excise Liability of the next month. How can we claim the ITC of this amount..

Thank you

[Himansu Sekhar]

This question to be debated

[Ganeshan Kalyani]

There is clarification in the law to claim such credit. In my view the said credit should be shown in Service tax return. If it is filed then revised return can be filed. Excise return cannot be revised. The credit excess shown in Service tax return can be carried forward in the GST TRAN 1 form.

[Himansu Sekhar]

I have seen in a tweet gst@goi clarified about such availability of credit. But the tax paid bin July will be eligible for credit in July. How can it be shown in June qr. Return. Board may clarify this issue.

[Ganeshan Kalyani]

Yes Sri Himanshu Ji the department has to clarify on this part. Lot of assesse has the same problem.

[Mehul Pandya]

If it is eligible then where to show it ?? In trans from or to revise Service Tax return.

Which option to take ?