Regarding IGST credit
Query (Issue) Started By: – Jasbir Uppal Dated:- 27-9-2017 Last Reply Date:- 30-9-2017 Goods and Services Tax – GST
Got 11 Replies
GST
Dear professionals,
\nThe 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.
\nProfessionals brother and sister please give the valuable views.
\nWith regards
\nJ.S. Uppal
\nTax Professional
\nReply By Himansu Sekhar:
\nThe Reply:
\nNo, it is just like any credit if you upload the particulars in gstr2. It will not be shown in the cash balance.
\nReply By Hi<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n cash, TDS\/TCS made on account of tax payer. Money can be deposited 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. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Regarding IGST credit Query (Issue) Started By: – Jasbir Uppal Dated:- 27-9-2017 Last Reply Date:- 30-9-2017 Goods and Services Tax – GSTGot 11 RepliesGSTDear 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 … Continue reading “Regarding IGST credit”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7995","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7995"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7995\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nThen can the taxpayer meat out the tax liability under RCM with this amount.
\nReply By Himansu Sekhar:
\nThe Reply:
\nRCM can be paid from casdh ledger.
\nIt has no relationship with imports igst.
\nReply By KASTURI SETHI:
\nThe Reply:
\nUnder RCM deposit of tax in cash makes you eligible for taking ITC. Thus such cash deposit lying in your electronic ledger has<\/p>\n
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