Goods transport agency- Forward Charge option
This query is : Resolved
Jaya Kumari
(Querist)
22 June 2023
Hello Experts,
The case scenario is :
A goods transport agency opted for Forward charge by filing Annexure V on 28th May 2023 for FY 23-24, as the date was extended upto 31st may.
Now it had already done 1 transaction under reverse charge in April.
As the notification says that once opted for forward charge, all transaction should be as per forward charge for FY 23-24. So what will be the course of action in this case?
The case scenario is :
A goods transport agency opted for Forward charge by filing Annexure V on 28th May 2023 for FY 23-24, as the date was extended upto 31st may.
Now it had already done 1 transaction under reverse charge in April.
As the notification says that once opted for forward charge, all transaction should be as per forward charge for FY 23-24. So what will be the course of action in this case?
CA R SEETHARAMAN
(Expert)
23 June 2023
Amend the invoice with forward charge.
RCM paid can be reversed.
RCM paid can be reversed.
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