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Rcm on frieght

17 August 2017

I purchased some raw material out of state n delivered by lorry n that transporter do not have GST number but he issued us a Bilty Invoice without Tax n frieght amount is more than 20000, in this case RCM applicable if yes then as a IGST or SGST & CGST.

n also tell Frieght entries will be shown in purchases or not?

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24 Replies

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1443 Points)
Replied 17 August 2017

You are liable to pay RCM as IGST @ 5%.

ITC Is available in the gst paid month.

Which software you are using?

pankaj garg (36 Points)
Replied 17 August 2017

Using Tally software

pankaj garg (36 Points)
Replied 17 August 2017

Please also suggest will frieght shown in purchase entries or not?

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1443 Points)
Replied 17 August 2017

Some people saying that you needs to pass This type of entry in Purchase voucher in tally.

But don't follow this instruction because it is not you purchase.

It will be very illogical if you pass this type of entry in Purchase Voucher in Tally.

You can use journal entry and then pass payment entry.

After that same amount will be reflect in GSTR - 2 I have already did this and it's working 200%...

So don't go for expenses entry in purchase voucher make entry in journal voucher... Still Same will be reflect in GSTR 2...

pankaj garg (36 Points)
Replied 17 August 2017

yes already posted entry in journal or payment voucher, but when we r creating Gstr-2 then it shows in inward figure. n same we also have some exempted frieght which added in tax free goods amount while creating 3-b & gstr2

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1443 Points)
Replied 17 August 2017

It will be reflect in B2B Invoice in GSTR 2... If you made all ledger correctly.........

pankaj garg (36 Points)
Replied 17 August 2017

n some frieght is exempted. n i created different account for nil rated frieght n that frieght is showing in Gstr-3B in the figure of purchases. ( purchase +frieght) not showing as frieght,

plz suggest it is right or wrong or i can also send u screenshot

pankaj garg (36 Points)
Replied 17 August 2017

n some frieght is exempted. n i created different account for nil rated frieght n that frieght is showing in Gstr-3B in the figure of purchases. ( purchase +frieght) not showing as frieght,

plz suggest it is right or wrong or i can also send u screenshot

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1443 Points)
Replied 17 August 2017

Send screenshot

NAGESWARAN (ACCOUNTANT) (834 Points)
Replied 17 August 2017

@ PRABIR PAUL

I get the same instructions from expert MR. RAJA P.M

which ia absolutely correct sir. but confirm the entry im tally as follows.

pass the jrl entry-
increase of tax liability-pay the gst under statutory payment-jr statutory adjustment for increase of itc.

sir pls confirm that this step is ok or not. i do this same steps. or instruct any other Short method in tally tos complete the RCM. entry
Advance thanx

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1443 Points)
Replied 17 August 2017

Yes your adviser Mr. Raja P.M. is 200% correct.

The following step to be followed:-

1) Pass the journal entry.

2) Increase of Tax liability

3) Paid the the reverse charge

4) Increase of ITC...

NAGESWARAN (ACCOUNTANT) (834 Points)
Replied 17 August 2017

ok thank u so much.
for july rcm in which date increase of itc to be done on 31.7.17 or on rcm tax payment date. if we choose august for the 4th step then itc will be available in aug month return pls ur suggestions.can i pass the entry on 31.7.17 or not

pankaj garg (36 Points)
Replied 17 August 2017

file is not uploading someproblem; i purchased from out of punjab n GST on frieght is exempted so i create account under interstate nil purchase n then total purachse amount is with frieght showing in gstr-2 & also in 3B.