Advance paid for reverse charge supplies is also liable to procure GST. The person making advance payment has to pay tax on a reverse charge basis.5. Can you get Input tax credit (ITC) on transactions under RCM?Under the reverse charge mechanism, the recipient of goods cannot claim ITC as...
We have received freight bill from un registered person at what percentage I have to pay GST As it is not reflecting in GSTR 2A how can I claim ITC benefit on the same please clarify - GST
Accuracy in claiming ITC: When you claim ITC on your RCM supplies and goods, ensure that you have accurately made the claim; RCM being a slightly complicated procedure, it is advised that individuals practice accurate management. Understand GST with Deskera Try Deskera For Free Today Click here ...
5000 under RCM for transporter services and reflected this in your GST return for December 2020.- **ITC Claim in January 2021:** In January 2021, you attempted to claim Rs. 5000 as ITC, which resulted in a RED message, indicating an error or discrepancy.### Possible Reasons for the ...
Lekhraj sood (Expert) Follow 01 December 2020 ok, it is clear now.In this case you should not reverse the ITC on booking the credit note because the credit note will not have any GST amount. You can file refund claim under section 54 as excess payment of tax. ...
4. If under QRMP Scheme do i have to pay rcm and normal tax in 2 different chaalans. Also can i claim the ITC in the same month as it will not refelct in GSTR 2B 5. Self invoice where we have to upload in GST Returns? 6. For Import of Services Which GST Returns we ...
Dear All Member Kindly Tells us GST Applicability under RCM on Facebook Online Advertisement effective which date - GST RCM