23 February 2021
Dear Sir, Greetings! I have one question. Suppose we issue a invoice of Rs. 1,00,000/-, GST @18% - Rs. 18,000/- & TCS on Gross amount of Rs. 88.50. Net value of Invoice - Rs. 1,18,088.50 Now, please let us know, which amount should we mention in GSTR 1 (whether 1,18,000 or 1,18,088.50) ? and please also let us know, which is most reliable to charge TCS on sale invoice or issue debit note ? Regards / Vijay
23 February 2021
Taxable Value of Rs. 100000 /- and GST of Rs. 18000 /- are shown in GSTR-1. Since TCS has been levied under income tax . Return of TCS Should be separately filed.
CAclubindia
