RCM Time of Supply Rule Changes Effective from November 1 Now, let us look at GST due dates for December 2024. Here is a comprehensive image of our December GST Due Dates Calendar or GST Compliance Calendar. It has all the GST Due dates for December 2024 so that you never miss the Dece...
The GST Portal has been upgraded to feature an RCM Liability/ITC Statement, which helps taxpayers accurately report their transactions. *** GST Collection for August 2024 As per the comprehensive report released on the Goods and Services Tax portal, the gross monthly GST collection increased by 10...
The GST Portal has been updated to include an RCM Liability/ITC Statement for taxpayers to assist them in correctly reporting transactions. View more 21st August 2024 GST Instruction No. 03/2024 relates to applicable paragraph 2(g) of Instruction No. 01 issued on 30th March 2024. Read more ...
Ven. Start Date Date RCM Exemp. for Un-Reg. Ven. End Date Date Cr. & Libty Adj. Journal No. Type: Code 10 Purch. Inv. Nos. (Reg) Type: Code 10 Purch. Inv. Nos. (Reg Supp) Type: Code 10 Pur. Inv. Nos.(Reg Deb.Note) Type: Code 10 Purch. Cr. Memo Nos. (Reg...
Date RCM Exemp. for Un-Reg. Ven. End Date Date Cr. & Libty Adj. Journal No. Type: Code 10 Purch. Inv. Nos. (Reg) Type: Code 10 Purch. Inv. Nos. (Reg Supp) Type: Code 10 Pur. Inv. Nos.(Reg Deb.Note) Type: Code 10 Purch. Cr. Memo Nos. (Reg) Type...
GST is a tax on supply, however, under the concept of RCM, the liability to pay tax is on the recipient of supply of goods and services instead of the supplier of such goods or services. Section 9(3) and 9(4) of the Central Goods and Services Tax Act, 2017 (CGST Act) provide ...
Educational institutions are liable to pay GST on RCM for these goods or services – Sponsorship revenues from non-corporate entities Security services from non-corporate entities Sale of capital assets Training, seminars & workshops, for people except for students, faculty, and staff. 8. When ...
Inward supplies attracting RCM Yes Import of goods/services No Import of Goods from SEZ No Sugam return filing process The Sugam GST returns consists of one main return, to be filed on a quarterly basis supported by two main annexures. Form GST RET-3 is the return form to be used to fi...
For paying GST under RCM basis, you need to prepare a "SELF INVOICE" as provided under Section 31(3) clause (f) of the CGST Act 2017 on the date of receipt of goods or services and also you need to issue a Payment Voucher to the Supplier acknowledging the payment. Accordingly you ...
Rcm on audit fee(42) Gst on office(27) Itc credit for raw materials sold as scrap(20) 16(4) time limit(19) Itc reversal on fixed assets written off in the books(15) Non issue of tax invoice by registered gta(15) Gst on supervision charges(13) ...