Goods and Services Tax – Started By: – Jasbir Uppal – Dated:- 27-9-2017 Last Replied Date:- 30-9-2017 – Dear professionals, The IGST paid on import of goods from out of Indian Territory which is out credit should be showing in cash balance on GSTN portal but it is not shown and the taxpayer is unable to adjust the liability of RCM. In GSTR-3B there is no mechanism for adjustment IGST with liability of RCM. Professionals brother and sister please give the valuable views. With regards J.S. Uppal Tax Professional – Reply By Himansu Sekhar – The Reply = No, it is just like any credit if you upload the particulars in gstr2. It will not be shown in the cash balance. – Reply By Himansu Sekhar – The Reply = RCM has to be paid by cash only. – Reply
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sited in this ledger by Internet banking, debit card, credit card, RTGS, NEFT, over the counter payments of authorized banks. (The credit card needs to be registered on the portal) Payments can be debited from this ledger the debit entry no. is to be reflected in the return. This information will be reflected on real time basis.Then can the taxpayer meat out the tax liability under RCM with this amount. – Reply By Himansu Sekhar – The Reply = RCM can be paid from casdh ledger.It has no relationship with imports igst. – Reply By KASTURI SETHI – The Reply = Under RCM deposit of tax in cash makes you eligible for taking ITC. Thus such cash deposit lying in your electronic ledger has independent existence. No bottleneck in using ITC as already
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