Dear Sir,
We have hire advocate for legal matter and pay Rs. 5000. but he is unable to provide bill. please suggest what to do in case also can we need to pay RCM
Menu
Advocate Hire
Replies (7)
You can make direct entry
Advocate A/c Dr.
To Bank A/c
Prepare voucher and take sign of Advocate
Advocate A/c Dr.
To Bank A/c
Prepare voucher and take sign of Advocate
Cash voucher
write the name of advocate
to bank account
and sing it
and make your entry
write the name of advocate
to bank account
and sing it
and make your entry
As per Notification 13/2017 CT (R) ,inward supply from advocate is under RCM , so you are liable to deposit GST under RCM & can issue self tax invoice as per Section 31(3)(f) of CGST Act.
Entry will be:
legal charges 5000 dr
cgst input rcm dr 450
sgst input rcm dr 450
to cgst output rcm 450
ro sgst output rcm 450
to cash/bank 5000
legal charges 5000 dr
cgst input rcm dr 450
sgst input rcm dr 450
to cgst output rcm 450
ro sgst output rcm 450
to cash/bank 5000
Agree with Pankaj Rawat
RCM entries as follows
1) Legal Expense A/c Dr
To Consultant Advocate A/c Cr
( Being Expense payable )
2) Reverse Charge A/c Dr
CGST A/c Cr
SGST A/c Cr
( Increase liability of Tax )
3) CGST A/c Dr
SGST A/c Dr
To Bank A/c Cr
( payment of Tax , RCM )
4) CGST A/c Dr
SGST A/c Dr
To Reverse Charge A/c Cr
( Entry to avail ITC entry )
5) Consultant Advocate A/c Dr
To Bank A/c Cr
( Payment to Advocate )
Reverse Charges A/c current Assets side
Dear Parsad hi
Nicely explain 👍
Recent Topic
- Clarification Needed: Reporting Accrued vs Paid FD
- TDS on prize given to participants in Livestock sh
- TDS related matter - 194 IA
- Research: How do CA firms handle GSTR-2B reconcili
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
Related Topics
CAclubindia
