Rcm

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ratnmani jain (Querist)
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27 September 2017 I am having a manufacturing concern for making Wires.

I have filed the GSTR-3B for July and August and GSTR-1 for July, however without accounting for RCM Liability.

Is there a checklist for certain prevalent expense and income heads, for the purpose of calculating RCM liability.
I can look into the specific cases as an exception.

A checklist shall really help.

Since, GST credit is available on receipt of goods, how de we record the transaction in acccouting software? Are there separate entries for Purchaseand availing GST Input ?

Ratnmani Jain
Mo 9910028125
Ratnmani_jain@yahoo.co.in

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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27 September 2017 Expense list under GST https://www.caclubindia.com/share_files/details.asp?mod_id=74125

ratnmani jain

ratnmani jain (Querist)
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27 September 2017 Thanks a lot Ca Rashmi for the prompt response, it will be kind of you to also answer my second query regarding GST Credit for interstate purchase.

anshul aggarwal

anshul aggarwal (Expert)
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27 September 2017 Which accounting software are you using?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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27 September 2017 Send me link of your query

Asha Kanta Sharma

Asha Kanta Sharma (Expert)
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20 July 2025 Accounting for Purchase & GST Input :

Purchase of Raw Material/Service - Dr. Purchase/Expense Account
GST Input Credit Available on Purchase - Dr. Input GST Credit Account
Amount Payable to Supplier - Cr. Supplier / Creditor Account

Accounting for RCM Liability :
Receipt of Service subject to RCM (say Security Service) - Dr. Expense Account (Security Expense)
RCM GST liability (CGST, SGST or IGST) - Dr. Input GST Credit (If eligible)
GST payable under RCM - Cr. GST Payable (RCM Liability)

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