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
Any amount payable under reverse charge shall be paid by debiting the electronic cash ledger. The reverse charge liability cannot be discharged by using input tax credit.Advance paid for reverse charge supplies is also liable to procure GST. The person making advance payment has to pay tax on ...
18 July 2020VIPUL JAIN Dear Sir Please clarify that, if the director has charged GST under forward charge for professional fees then also company is liable to pay GST on RCM basis ? 23 July 2020Anoop Gupta As per the provisions of GST Act Section 9(3) in case of notified goods and se...
Under the CGST the notice concerns the kinds of solutions where the tax is payable for the reverse charge mechanism. The solution is given by the method of providing a motor on rent said by the corporation for entry 15 of the notice before the revised announcement. An individual unlike a ...
However, there are some notified services under GST, on supply of such services GST is applicable under reverse charge i.e. the purchasers are required to pay GST to the Government.A buyer may have to return the goods or issue credit note due to various reasons like damaged...
SGST/UTGST Payable Account 900 CGST Receivable Account -900 SGST/UTGST Receivable Account -900 Purchase or Services Account or Fixed Asset increase during the year -10000 GL Entries for Intra-State or Intra-Union Territory purchase return of goods, services, fixed asset, charge...
SGST/UTGST Payable (Interim) Account -900 CGST Payable (Interim) Account -900 Vendor Account -10000 GL Entries for Intra-State purchase of goods and services from an unregistered vendor where input tax credit is not available (reverse charge), will be as following: 展...
IGST payable under RCM in case of Import of service were the payment is made in cash, credit to the extent of IGST paid in cash to be utilized in the same month. Place of Supply in case of Import of Service In case of Import of service, if the nature of service does not fall unde...
Dear Sir Madam We charged freight charges on invoice and calculated GST on the same rate as applicable on goods But the same amount of freight paid to GTA Is GST to be paid on RCMalso Example Value of Goods 90000 Freight charges 10000 Taxable value 10000
However, there are some notified services under GST, on supply of such services GST is applicable under reverse charge mechanism i.e. the purchasers are required to pay GST tax to the Government.Purchase process for unregistered vendor has been explained in this document....