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?
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Conversion from reverse charge to forward charge
Replies (6)
No procedure required.
but have to make changes in Invoice.
must mentioned Supply as Forward charge( FCM), charge 12%
but have to make changes in Invoice.
must mentioned Supply as Forward charge( FCM), charge 12%
The dealer must be maintain records for the same
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.
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 .
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?
NO........ ONLY CAN OPT THE SCHEME AT BEGINING OF FY Y
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