Reverse Charge Mechanisam

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....everse Charge Mechanisam<br> Query (Issue) Started By: - Mohideen A Dated:- 10-11-2020 Last Reply Date:- 12-11-2020 Goods and Services Tax - GST<br>Got 4 Replies<br>GST<br>An registered STP unit having only Exports without IGST (LUT))having a permanent place of business within india has entered into a transaction with its parent company registered outside india. The associated enterprise has provi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ded management support services to the said STP unit. The date on which the book entry was made is on March 31,2020. Is this transaction liable for RCM under import of services payable in cash. If liable also let us know whether credit against the same can be availed since this pertains to financial year 19-20. Reply By Rajagopalan Ranganathan: The Reply: Sir, In my opinion you are liable to pa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y IGST under reverse charge since import of service will be treated as inter-state supply. You have booked this payment on 30.03.2020. Therefore you have to pay gst on or before 20.04.2020. If you pay beyond this date you have to pay appropriate interest. Regarding ITC you have to avail it on or before 20.10.2020, that is the last date for filing GSTR-3B return for September 2020. However now your....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... claim for ITC will be time barred. Hence you cannot avail ITC now. Reply By Rajagopalan Ranganathan: The Reply: Sir, Further to my reply dated 11.11.2020, if you pay the gst under RCM on or after 01.04.2020 you have a chance to avail ITC till you file your GSTR-3B return doe September 2021, that is, 20.10.2021. Reply By KASTURI SETHI: The Reply: Yes. ITC is available as opined by Sh.Ranganat....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....han Sir at serial no.2 above. Reply By Mohideen A: The Reply: Thanks for the clarification<br> Discussion Forum - Knowledge Sharing ....