Goods and Services Tax – Started By: – Mayuri Shete – Dated:- 19-9-2017 Last Replied Date:- 21-9-2017 – If we have paid Rs.3,25,000 against our URD liability for the month of July-2017. & again in the month of Aug-2017 we have fresh liability of ₹ 3,50,000/-against URD transactions. so how much tax payment should be done through challan in this month? ₹ 25000/-or ₹ 3,50,000/-? please advise. – Reply By Vamsi Krishna – The Reply = RCM shall be paid in cash & can be utilised on payment of output liability.So in your case you need to dischrage 3,50,000 in cash ledger and can be utilised against output liability. – Reply By Mayuri Shete – The Reply = When we discharged our RCM liability of ₹ 3,25,000/-in July-20
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August 2017. The last date will be 20.9.2017. Whatever amount you pay through bank challan it will be reflected in your Electronic Cash Ledger. You can use this for payment of tax on supplies made by you at any time. There is no time limit for utilising the amount deposited in Electronic Cash ledger. – Reply By MARIAPPAN GOVINDARAJAN – The Reply = I endorse the views of Shri Vamsi Krishna – Reply By Mayuri Shete – The Reply = We have discharged our RCM liability for July-2017 on 20.8.17 itself, filed GSTR3-B for July-2017. But then the amount is not reflecting in our Electronic credit ledger. we paid the amount on 16.08.2017. it was reflecting in cash ledger on 20.08.2017.we filed GSTR3B. now cash ledger is showing zero balance & credi
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ll have an option in GSTR-2 for credit. Pls wait till dead line of GSTR-1. Once GSTR-2 window opens, the RCM liability that is paid shall be allowed and added to the input ledger. – Reply By Mayuri Shete – The Reply = @ Vamsi Krishna, checked liability ledger. RCM liability adjusted against cash.will wait till 10.10.17 for RCM payment done to be added in our credit ledger.Thanks to all the experts for this valuable information. – Reply By Ganeshan Kalyani – The Reply = There is a practise of paying reverse charge liability in cash and availing the credit in the same month. Since you had no liability in the month of July 2017 on sales, you paid GST in cash under reverse charge. You have liability in August 2017. You can claim the credit of t
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