Assessee has paid advertisement charges to foreign media company for showing advertisement on their channel in their (foreign) country in 2017-18. whether such charges are liable for reverse charge under import of service ??
If answer is yes and liable, if he pays the same now in 2019-20, can he avail cenvat credit for the same in 2019-2020 after payment of the same.
as an auditor, shall we have to point out the same in 9C Audit Report ?? and whehre ??
Foreign Ad Charges in 2017-18: Reverse Charge GST Due, No ITC Claim Allowed Now Under CGST Sections 13(3)(a) & (b) An assessee paid advertisement charges to a foreign media company in 2017-18 and inquired whether these charges are subject to reverse charge under the import of service. If liable and paid in 2019-20, the question arose about claiming CENVAT credit for that period. One response indicated that GST on reverse charge mechanism (RCM) should have been paid in 2017-18, and input tax credit (ITC) cannot be claimed now. Another response confirmed ITC is inadmissible due to the time of supply rules under the CGST Act, specifically sections 13(3)(a) and (b). (AI Summary)
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