Reverse charge mechanism is the case in which the receiver of goods is obligated to pay GST rather than supplier. Reverse charge mechanism (RCM)
While the new amendments in addition to clearing the ambiguities will further refine the GST provisions. The key changes could be in provisions for composition scheme, reverse charge mechanism (RCM) and returns filing. Furthermore, the amendments would also clarify compensation process for ...
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The Lessor has filed a credit note in GST return which is showing under Credit note section in GSTR 3B and in Reverse charge- Credit Notes in GSTR 2B. If I reverse the amount of credit note at the time filing GSTR 3B, the balance in the Electronic Credit Ledger will get reduced by...
GSTR Filing Due Dates Tax Software Official Panel Suggests RCM and Other GST Provision To DelayJanuary 12, 2018Deependar Singh (Ex-Employee)Latest & Trending GST News 2 Minutes Read The technical issues of GST Network (GSTN) coupled with errors in invoice matching have brought in criticism...
Dear Sir We had paid an amount of Rs 5000 as RCM transporter and showed the same in return of December 2020 Now during the return filing for the month of January 2021 when i take the ITC of Rs 5000 it shows RED Please advise With best regards Vijay