Goods and Services Tax – Started By: – nandankumar roy – Dated:- 19-8-2017 Last Replied Date:- 20-8-2017 – we are filling TRN-1 . So pl tell input credit agst RCM can taken in this month or to be claim in next month only.so i have to change return and another thing we have credit of cenvat appx 1 core and in vat no credit and C FORM collection due appx 4 crore out of 10 cores 2% sales , in this situation vat liability will be arise how much amt ,pl confirm when we are going to submit TRN1 whether we have to pay cash agst vat liability amount agst not recd of c form amount or it will be adjust agst cenvat. With Regards, N KROY – Reply By RAMESH PRAJAPATI – The Reply = RCM credit is available in the same month. Need not to wait for next mont
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quent month. – Reply By KASTURI SETHI – The Reply = Rightly advised by Sh.Kalyani ji. Also go through FAQs issued by the Board. There is solution to this problem. You will get benefit of credit against liability of Form C. You will not find the word Form C. There is provision for deemed credit. I think it will cover credit against your liability of Form C. – Reply By RAMESH PRAJAPATI – The Reply = By a tweet , GOI has clarified that ITC in case RCM can be taken and utilised in the same month. In support of this a well drafted article when can one take ITC for RCM Cases has been published by TMI today itself. – Reply By KASTURI SETHI – The Reply = Yes. Sir.Only condition is to pay first cash and then take credit. Credit can be taken on the s
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