Input credit of gst paid on urd

[Guest]

If we have paid Rs.3,25,000 against our URD liability for the month of July-2017. & again in the month of Aug-2017 we have fresh liability of ₹ 3,50,000/-against URD transactions. so how much tax payment should be done through challan in this month? ₹ 25000/-or ₹ 3,50,000/-? please advise.

AI Summary

Discussion on GST Reverse Charge Mechanism: Cash Payment Required Before Claiming Input Tax Credit for URD Transactions. A forum discussion revolves around the Goods and Services Tax (GST) and the Reverse Charge Mechanism (RCM) for unregistered dealer (URD) transactions. A participant queries about the tax payment for August 2017 after paying 3,25,000 for July 2017. Responses clarify that RCM must be paid in cash and can be utilized against future output liability. The participant notes issues with the RCM payment not reflecting in the electronic credit ledger. Experts advise checking the liability ledger and waiting for the GSTR-2 window to open for credit adjustments. The consensus is that RCM must be paid in cash before claiming Input Tax Credit (ITC).