RCM reversal on Import of Software
This query is : Resolved
Quick Summary
25 February 2020
Hello Friends,
Request your suggestion on the following point:
We have import of software on which GST was paid under RCM mechanism and input of this RCM was taken as ITC.
But now we have to cancel this import of software and issue a debit note against this Import software invoice.
So is there require to Reversal of RCM or paid GST debit note issue? and how to handle GST if payment not made against an invoice?
Request your suggestion on the following point:
We have import of software on which GST was paid under RCM mechanism and input of this RCM was taken as ITC.
But now we have to cancel this import of software and issue a debit note against this Import software invoice.
So is there require to Reversal of RCM or paid GST debit note issue? and how to handle GST if payment not made against an invoice?
CA R SEETHARAMAN
(Expert)
25 February 2020
Yes reverse ITC on RCM.
26 February 2020
Can take credit note from Supplier and book this against the invoice of software import
CA R SEETHARAMAN
(Expert)
26 February 2020
This relate to import supplier will not issue any credit note.
27 February 2020
We want to cancel this invoice.
How we cancel this invoice if payment not made against an invoice?
How to handle GST on the same?
How we cancel this invoice if payment not made against an invoice?
How to handle GST on the same?
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