Consideration of sponsorship service in GST for RCM self-generating invoice
This query is : Resolved
Quick Summary
11 April 2023
One of my clients (Pvt Ltd) transferred goods worth Rs 10 lakh plus Rs 25000 in cash under sponsorship services in a college sports event. Now how can I show it in books?
Is value of goods being also to be included in Rcm invoice or ITC of goods is to be reversed separately in GSTR-3B and RCM invoice is to be made up of only Rs 25000?
How do I show this transaction??
Is value of goods being also to be included in Rcm invoice or ITC of goods is to be reversed separately in GSTR-3B and RCM invoice is to be made up of only Rs 25000?
How do I show this transaction??
14 April 2023
Include value of goods also under RCM invoice.
14 April 2023
RCM on sponsorship services will be applicable only on value of services.
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