RCM OF 2018-19

[KERAGODEGOPALARAO ANANTHARAO]

RCM ON FRIEGHT NOT PAID FOR THE YEAR 2018-19, AT THE TIME OF GST AUDIT PARTY IS READY TO PAY THE RCM. HOW TO PAY, TO TAKE CREDIT IN CURRENT YEAR

[PAWAN KUMAR]

Dear Sir,

YOu need to pay along with interest. ITC will not be available in this case. It will become cost.

[Bhavika Chothani]

You can pay it now along with interest but please note ITC will not be available now

[Shilpi Jain]

If the supplier of this service is an unregistered person, there would be a requirement of issue of self invoice by the supplier. If such invoice is issued now there could be a possibliity of availing credit as it becomes an invoice of FY 20-21.

[PAWAN KUMAR]

where is the provision, please mention

[Guravaiah Manam]

RCM on Freight is Not applicable upto Sep 2019. if you want to pay the RCM After Oct 2019 to Mar 2020 bills , you must pay the rcm along with interest.

Regarding ITC , you can take ITC if you not yet file the sept 2020 return or annual return 2019-20

Time limit to claim ITC against an Invoice or Debit Note is earlier of below dates:

The due date of filing GST Return for September of next Financial year
OR
Date of filing the Annual Returns relevant for that Financial year

Regards,

Guru

AI Summary

Reverse charge on freight: pay tax with interest; input tax credit limited unless return filing and invoicing conditions met.
Reverse charge on unpaid freight must be paid by the recipient with interest; ITC is generally unavailable when paid late unless specific conditions apply, such as issuance of a valid self invoice for supplies from an unregistered supplier or where the recipient has not yet filed the relevant periodic or annual return. The statutory time limit to claim ITC is the earlier of the due date for filing the specified monthly return in the next financial year or the date of filing the annual return for that financial year.