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Entry and GSTR3B for Google Invoices

RCM 106 views 2 replies

fnatic fan

4 Points Joined January 2024

How can I make an entry for the below Google invoice? The invoice mentions that "Tax for this invoice is payable under reverse charge."

Google deducted Rs. 290 from my account. So should I take Rs. 290 + 18% IGST as RCM Entry?

Also, will it come under Import of Services or Inward Supplies liale to Reverse Charge row in Table 4 of GSTR3B?

Attached File : 4000948 20241118190007 google invoice 2 1 1.pdf

Replies (2)

Rama chary Rachakonda

Master in Accounts & high court Advocate

8727 Points Joined December 2011

Here's how you can make the entry:

1. Calculate the tax amount: Rs. 290 (deducted amount) + 18% IGST = Rs. 290 + Rs. 52.20 (IGST) = Rs. 342.20

2. RCM Entry: Debit GST liability (IGST) Rs. 342.20

3. Credit Bank/Cash Rs. 290 (since Google deducted this amount)

4. In Table 4 of GSTR-3B, report this under "Inward Supplies liable to Reverse Charge" row.

5. Select "Import of Services" as the nature of supply. Note: Consult a tax professional or chartered accountant to ensure accuracy and compliance with GST regulations. Remember, reverse charge means the recipient (you) is liable to pay tax on the supply, so you'll need to account for the tax and report it accordingly in your GSTR-3B return.

Rama chary Rachakonda

Master in Accounts & high court Advocate

8727 Points Joined December 2011

Here's how you can make the entry:

1. Calculate the tax amount: Rs. 290 (deducted amount) + 18% IGST = Rs. 290 + Rs. 52.20 (IGST) = Rs. 342.20

2. RCM Entry: Debit GST liability (IGST) Rs. 342.20

3. Credit Bank/Cash Rs. 290 (since Google deducted this amount)

4. In Table 4 of GSTR-3B, report this under "Inward Supplies liable to Reverse Charge" row.

5. Select "Import of Services" as the nature of supply.

Remember, reverse charge means the recipient (you) is liable to pay tax on the supply, so you'll need to account for the tax and report it accordingly in your GSTR-3B return.

CCI Pro

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