RCM reversal on Import of Software

This query is : Resolved

Sushant (Querist)
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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?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 February 2020 Yes reverse ITC on RCM.

Sushant

Sushant (Querist)
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26 February 2020 Can take credit note from Supplier and book this against the invoice of software import

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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26 February 2020 This relate to import supplier will not issue any credit note.

Sushant

Sushant (Querist)
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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?

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