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

Discussing RCM on Freight for FY 2018-19: Pay with Interest, ITC Challenges, and Self-Invoicing Options. A query was raised regarding the payment of Reverse Charge Mechanism (RCM) on freight not paid for the financial year 2018-19 during a GST audit. Respondents advised paying the RCM with interest, but noted that Input Tax Credit (ITC) would not be available, making it a cost. One respondent mentioned the possibility of availing credit if a self-invoice is issued by an unregistered supplier, treating it as an invoice for FY 20-21. Another highlighted that RCM on freight was not applicable until September 2019, and ITC could be claimed if the September 2020 return or the 2019-20 annual return has not been filed.