I have reverse charged in gst whether i have to pay earlier
This query is : Open
Ashim kr Ray
(Querist)
22 August 2017
Sir,
i have purchase product from unregisted dealer for moth of july ,I have to follow RCM , two thing confusing me,
One At GSTR 3B whether I have to paid Advance through challan RCM amount in GST than i have to take the credit or what.Please suggest.
i have purchase product from unregisted dealer for moth of july ,I have to follow RCM , two thing confusing me,
One At GSTR 3B whether I have to paid Advance through challan RCM amount in GST than i have to take the credit or what.Please suggest.
22 August 2017
Your cash payments are excess in your liabilities then you can reverse the amount into RCM related tax...
Message likes :
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Ashim kr Ray
(Querist)
22 August 2017
Not Excess Sir
purchase from unregister
Amount 2011382
5% RCM 100569
sale 2287381
5% 114369
Here i want to know whether i have to deposited the RCM amount Rs 114369 through challan in GST then submited the return or i have made wrong.
purchase from unregister
Amount 2011382
5% RCM 100569
sale 2287381
5% 114369
Here i want to know whether i have to deposited the RCM amount Rs 114369 through challan in GST then submited the return or i have made wrong.
22 August 2017
I think above said amount is sales liability. So, It's not adjustable in RCM....
22 August 2017
Mr. Ashim.,
First of you think RCM related payment can't adjust to liability.
And RCM related payments is must as cash payment....
22 August 2017
RCM related payment is First pay then reverse as same...
Advisable to avoid most of expenditure from URD....
CA Rashmi Gandhi
(Expert)
23 August 2017
Dear pay full 114369 as GST for once.
& also claim it as ITC.
Message likes :
1 times
CA Rashmi Gandhi
(Expert)
23 August 2017
You have to pay it full as RCM GST will be adjusted from Cash Ledger only.
Message likes :
1 times
23 August 2017
Dear Ashim,
You ll be pay full amount. I mean RCM amount Rs. 100569 & Sales liability amount 114369....
Message likes :
2 times
Ashim kr Ray
(Querist)
23 August 2017
Sir,
Sir first i pay liability amount Rs 114369 then adjust it through ITC,actually ITC has not been paid as it purchase from unregister ,so I have to paid the ITC first through challan ,then can claim ITC.
Sir first i pay liability amount Rs 114369 then adjust it through ITC,actually ITC has not been paid as it purchase from unregister ,so I have to paid the ITC first through challan ,then can claim ITC.
Ashim kr Ray
(Querist)
23 August 2017
Sir,
Sir first i pay liability amount Rs 114369 then adjust it through ITC,actually ITC has not been paid as it purchase from unregister ,so I have to paid the ITC first through challan ,then can claim ITC.
Sir first i pay liability amount Rs 114369 then adjust it through ITC,actually ITC has not been paid as it purchase from unregister ,so I have to paid the ITC first through challan ,then can claim ITC.
23 August 2017
Dear Ashim.,
Understand RCM related Payments and Adjustments...
You paid the amount of Rs.114369. After submitted the return you ll move to payment of tax column, You can see the values of adujut from ITC and Adjust Cash. You adjust the cash to your liability after balance amount ll be adjusted to RCM. It's auto/Statndard view...
See the tax payment column you can get details
Understand RCM related Payments and Adjustments...
You paid the amount of Rs.114369. After submitted the return you ll move to payment of tax column, You can see the values of adujut from ITC and Adjust Cash. You adjust the cash to your liability after balance amount ll be adjusted to RCM. It's auto/Statndard view...
See the tax payment column you can get details
Message likes :
1 times
CA Rashmi Gandhi
(Expert)
24 August 2017
Pay 114369 & take ITC of RCM. & adjust balance from output liability
Message likes :
1 times
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