Availment of Input tax credit on the tax paid under RCM

Availment of Input tax credit on the tax paid under RCM https://www.taxtmi.com/article/detailed?id=8430 ITC for tax paid under reverse charge is subject to combined RCM and ITC eligibility rules: possession of prescribed documents, receipt of supply, actual payment of tax to the government and return filing. Provisional self-assessed credit may be recorded but utilization and final entitlement depend on payment and return declaration. The article concludes that RCM ITC is effectively available only after payment and appropriate declaration through the return and ledger offset processes. en-us Mon, 25 Mar 2019 06:16:44 +0530 Mon, 25 Mar 2019 06:16:44 +0530 TaxTMI RSS Generator Availment of Input tax credit on the tax paid under RCM https://www.taxtmi.com/article/detailed?id=8430 ITC for tax paid under reverse charge is subject to combined RCM and ITC eligibility rules: possession of prescribed documents, receipt of supply, actual payment of tax to the government and return filing. Provisional self-assessed credit may be recorded but utilization and final entitlement depend on payment and return declaration. The article concludes that RCM ITC is effectively available only after payment and appropriate declaration through the return and ledger offset processes. Articles Goods and Services Tax - GST Mon, 25 Mar 2019 06:16:44 +0530 https://www.taxtmi.com/article/detailed?id=8430