GSTR9 and GSTR9C

Save Share

This query is : Resolved

Quick Summary

This discussion addresses a firm's failure to pay Reverse Charge Mechanism (RCM) for the financial year 2018-2019. The recommended solution is to pay the outstanding RCM amount along with applicable interest using the DRC-03 challan. While GSTR9C may not be applicable if the taxable turnover is below five crores, filing GSTR9 is still mandatory. Importantly, Input Tax Credit (ITC) cannot be claimed on this RCM payment.

R S Sai Kumar

R S Sai Kumar (Querist)
Follow

16 August 2020 One firm has not paid RCM pertaining to the financial year 2018 - 2019, How to solve this?
Party will pay the RCM. I wanted to file GSTR9, GSTR9C is not applicable as the taxable value is less than Five Crores

R S Sai Kumar
9246881884

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

16 August 2020 Pay the amount through DRC 03. No ITC can be claimed on it.

Lekhraj sood

Lekhraj sood (Expert)
Follow

17 August 2020 GSTR9 you have to file even if the turnover is less than Rs. 5 crores.Please report this in GSTR9 and pay the GST on RCM alongwith interest in DRC03 challan.

R S Sai Kumar

R S Sai Kumar (Querist)
Follow

17 August 2020 Thanks a lot for the replies
R S Sai Kumar

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