Reverse Charge Mechanism

[VIGNESH]

Sir. GTA Expenses accounted in books during the year 2020-21, and RCM was not paid with in the year. Can i pay RCM in November 2021 and Claim ITC?

[KASTURI SETHI]

In continuation of my views at serial no.20, I have also seen Advocates, Chartered Accountants, Company Secretaries, Consultants who adhere to brevity and relevance and to the point while filing reply to the SCNs during my service in the department and I have no hesitation to say that I have learnt from them regarding how to be brief without losing quality.

[Ganeshan Kalyani]

Yes Sir. There are good advocates who really work hard to get justice for the client.

[AMBADAS VENKATESWARA]

you can pay rcm but not claim itc

AI Summary

Input tax credit timing: belated reverse charge payment may be time barred unless debit note issuance meets prescribed criteria.
Querist delayed issuing self-invoice and paying reverse-charge tax for transport services and proposes to pay RCM later and claim ITC. Opinions diverge: one view treats failure to issue timely self-invoice as time-barred for ITC despite belated payment and warns of interest, penalties and need for departmental approval; an alternative view treats belated documents as debit notes/supplementary invoices and, relying on administrative clarification that debit note date governs ITC timing, contends ITC may be claimable within the debit-note time window. The issue is fact-specific and contested.