This is in essence Reverse Charge.1. When is RCM under GST applicable?Under GST, there are three types of reverse charge scenarios, which are:i. Nature of Supply/Nature of SupplierThe reverse charge mechanism is applicable upon the nature of the given goods/services as notified by CBIC ...
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 have to file under QRMP Scheme 7. How to claim ITC in self invoicing as it will not r...
RCM on freight limit 750 How are services by e-commerce operators treated under RCM? GST RCM on foreign expenses RCM under GST Transportation RCM on labor charges under GST Business liable to pay Reverse Charge on GTA Services How to check GST Paid by Supplier in RCM under GST?
GST @ 5% is required to be paid by the Recipient under Reverse Charge Mechanism (RCM) as per Section 9(3) of the CGST Act 2017 read with Notification No. 13/2017 - Central Tax ( Rate ), dated 28th June 2017, if you have received services from a GTA ( Goods Transport Agency ).For...
GST calculation will appear in the Fact Box, as following: 展开表 ComponentAmount GST Base Amount 10,000 CGST 900 SGST 900 IGST 1800 GL Entries for Intra-State or Intra-Union Territory purchase return of goods, services, fixed asset, charge item to unregistered vendor where...
- **Payment under RCM in December 2020:** You correctly paid Rs. 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 messag...
This article has been prepared by Varsha Vasante Gowda (Audit Executive) and vetted by CA Akshay Hiregange. The author could be reached at varshav@hiregange.com. Published by Varsha Vasante Gowda (Audit Executive) CategoryGSTReport Other Articles ...
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 services, the person respon...
Our Gross Receipts are from 2 sources i e from sales of material and transportation services Now my question is 1 Whether I am liable to pay GST on outward transportation charges 2 Whether GST payable under RCM on inward Transportation Charges paid