Gst return filing by recovery agent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 April 2018 1.recovery agent registered with gst.(as every registered person has to file gst retuns).
then how to file gstr 3b ,gstr1 in case of recovery agent services as the tax is paid by banks(recepients), in which table should the taxable services provided by the recovery agent should be shown in the return filed by the service provider.
2. what is the tax liability of a person providing finance against motor vehicles and personal loans?what amount should be included in turnover ( pricipal,interest, other charges).? what is the tax rate? hsn code? under which category the services are to be shown( b2b/b2c).tax liability should be computed on which amount?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

01 May 2018 1 File GSTR 3B nil return andfill GSTR 1 Table 4B supplies attracting tax on reverse charge basis.
2 GST not applicable on financing charges(interest).

Message likes : 2 times

Querist : Anonymous

Querist : Anonymous (Querist)

08 May 2018 dear sir thank you for your guidence.
it means while entering the details in gstr-1, under table 4b adding invoice details we have to choose the option " supply atteracts reverse charge". is my contention is correct or not please give reply on this.
sir, as the invoice is raised by the service reciver(banks)(self generated invoice under reverse charge mechanism) we the service provider does not hold any inventory of invoices i.e, we can not maintain the continuous series of invoice. it may not possible in some circumstances.., please suggest some steps to be taken to make answer in any further audit proceedings.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

08 May 2018 Your contention is right. No need to add invoice under this table if invoice details are not available.

Message likes : 2 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now