wrong payment of RCM GST

[Madhavan iyengar]

A Company has paid RCM GST on some transactions which were not subject to GST and Claimed the ITC credit of same

Query: For wrong payment of RCM GST can ITC be availed or a refund should be claimed of the wrong payment made.

AI Summary

Company Advised to Claim Refund for Erroneous RCM GST Payment Instead of ITC Claim; Seek 'Excess Payment Of Tax' Refund A company mistakenly paid Reverse Charge Mechanism (RCM) GST on transactions not subject to GST and claimed Input Tax Credit (ITC) on the same. The query sought advice on whether to avail ITC or claim a refund for the erroneous payment. Respondents unanimously advised that the company should claim a refund under the category of 'Excess Payment Of Tax' since RCM was not applicable, rather than claiming ITC.