Consideration of sponsorship service in GST for RCM self-generating invoice
This query is : Resolved
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Missed TDS
- IT returns for fresh job holders
- F&O reporting in ITR
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
