LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Conversion from reverse charge to forward charge

10 June 2020

A registered person providing services under reverse charge mechanism as a transporter @ 5% wishes to convert it's supplies to forward charge liable for gst @ 12%..
Is there any procedure to be followed for the same? whether yes then what is it?

Reply
Follow
Share

6 Replies

Sushil (Accountant) (108 Points)
Replied 10 June 2020

No procedure required.
but have to make changes in Invoice.
must mentioned Supply as Forward charge( FCM), charge 12%

1 Like

KRISSHNAN KP (4215 Points)
Replied 10 June 2020

The dealer must be maintain records for the same

1 Like

NC MOHANRAJ (GENERAL MANAGER) (67 Points)
Replied 10 June 2020

Please note that once transporter opts for RCM method of raising tax invoice in the beginning of the year and difficult to change the option to forward charge tax invoice basis in the middle Of the year.

2 Like

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 10 June 2020

As such there is no any procedural compliances, can Excercise the Option to pay GST 12% on FC in the beginning of FY & need to continue with it till end of Fy .

1 Like

Mayuri Thakker (11 Points)
Replied 12 June 2020

If the transporter wishes to convert from 1st July and collect tax @ 12%and claim itc then can it be made possible if all the invoices pertaining to two periods from April to June and from July to rest months are separately recorded?