Reverse charge 9(4) where to show Gst r1 and Gstr2
This query is : Open
RK AND ASSOCIATES
(Querist)
16 September 2017
as per 3b we created liability of RCM and taken the ITC for same but now where I can show RCM purchase to create liability and to avail credit
CA Rashmi Gandhi
(Expert)
17 September 2017
Show in GSTR-2 only........
RK AND ASSOCIATES
(Querist)
17 September 2017
but madam how RCM liability is created in gstr2 as gstr2 will give us ITC
RK AND ASSOCIATES
(Querist)
17 September 2017
Reverse charge is what?? 1)payment in advance of urd purchase 2)liabiliy-Itc No profit no loss
CA Rashmi Gandhi
(Expert)
17 September 2017
You claim ITC for same in GSTR-2 & you have to settle such liability in GSTR-3 from cash balance.
So no need to show it in GSTR-1/
CA Rashmi Gandhi
(Expert)
17 September 2017
Also Such liability adjusted only from cash ledger not from ITC. So you have to deposit first in cash for same.
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