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Rcm on usd

R.K. Rai (BUSINESS) (66 Points)

27 July 2017

Dear Experts, Plese confirm If I am a registered dealer and I purchase goods from unregistered person. Will I have to raise my own invoice (Tax Invoice) under reverse charge? If yes, then in whose name the invoice shall be made. Please confirm.

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11 Replies

Ahmed Ali (388 Points)
Replied 27 July 2017

Suppose you had done 100 transactions in a month with unregistered dealers, then at the month end you can raise a single tax invoice in respect of those supplies covered under reverse charge.

That invoice you must raise on yourself.

Ashwani Rajput (6 Points)
Replied 27 July 2017

If goods is lying under different rates

Dhana P (41 Points)
Replied 27 July 2017

@ Ashwani rajput:In case goods lying in different rates then different invoices for different rates
For example: you made 50 transactions on 5%rated goods and 20 transactions on 12%rated goods,then you can raise 2 tax invoices in respect of those transactions
One is for all the 5% sales and another for all the 12% sales.

Ahmed Ali (388 Points)
Replied 27 July 2017

Agreed with Dhana P.

Ashwani Rajput (6 Points)
Replied 27 July 2017

thanku

Kapil Mittal (STUDENT) (53 Points)
Replied 27 July 2017

Dear all further please tell me on same issue that HSN/SAC code are also required for claim itc on RCM invoices

Ahmed Ali (388 Points)
Replied 27 July 2017

Yes HSN/SAC are mandatory, because you need to fill them in GSTR-1 and GSTR-2 forms.

Venkat Hegde (CA) (86 Points)
Replied 27 July 2017

I was going through GSTR-1 and 2 in the GST portal. But I could not find any section for RCM invoice details. In the return, where exatly do we provide the details of invoices raised for RCM. GSTR-1 or GSTR-2 and where exactly?

Ahmed Ali (388 Points)
Replied 28 July 2017

In GSTR 2 you need to submit in Table no. 5 I guess

Neha Jain (Chartered Accountant) (1085 Points)
Replied 28 July 2017

invoice will in on self.

RAMESH POLINENI (ca) (352 Points)
Replied 29 July 2017

sir,

He is purchasing goods from an unregistered dealer the transaction itself is an RCM .under RCM you will not pay any input tax but if your rising any invoice on your self that means you had paid tax and also how can we raise invoice as a purchaser.

so all there are againt the law.you should not rise any self invoice it will difficult when you are filing the GSTR-2 return that means this amount of input tax you paid to the seller of the goods