07 August 2022
I am gst registered person and paying rent of Rs1924/ per month in cash to landlord. Bill is in my personal name. I received july 2022 bill in August 2022.How will I show in my books of proprietor ship firm residential bill? What will be the required journal entries? How much gst I am required to pay? Can I claim this gst? In which month should I claim? Please advise?
07 August 2022
18% of the rent paid each month is to be remitted under RCM. Yes, you can claim ITC in same month if used for business activity. Debit rent paid account every month.
07 August 2022
How gst reverse charge entries will be made? Which journal entries have to be passed in books of accounts for adjustment of reverse gst? How will we claim reverse gst by journal entries?
07 August 2022
We have never paid gst by reverse mechanism and claimed gst on reversed paid gst. We need to know how to pass the journal entries of reverse gst paid and claimed? Pl give the details of journal entries.
07 August 2022
You need to pay GST under RCM, directly to the government via Form GSTR-3B. You need to furnish Table 3.1 D of GSTR-3B to pay the GST liable to RCM.
07 August 2022
I am using my residence for office purpose also. All sales and purchases are made from office only. I am keeping all physical documents in my redidence
13 August 2022
Government clarified GST would be levied only when the residential unit is rented out to a business entity. “No GST when it is rented to private person for personal use. No GST even if proprietor or partner of firm rents residence for personal use.” The clarification provided relief to GST-registered proprietors or partners in GST-registered firms who take on rent immovable property for their personal use such as renting a house for family accommodation.
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