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GST INVOICE

26 October 2019

Sir

Our's is Private Limited Company. Our Company has to pay Commission to one of our's company director as on 31-03-2019. We have to pay GST on reverse charge basis u/s 9(3) of GST Act. Our company has raised self tax invoice on Dt. 01-04-2019 in the name of our director to full fill the reverse tax requirement. Then the respective GST input tax credit will be available for which year. i.e for the F.Y 2018-19 or 2019-20.Kindly clarify.

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7 Replies

RAJA P M ("Do the Right Thing...!!!") (127148 Points)
Replied 26 October 2019

First of the invoice preparation is wrong...

As per invoice You will pay GST Tax and Take input in April-19....

Sajal Mandal (294 Points)
Replied 26 October 2019

As per sec 16 ITC avail as per Tax Invoice.
Your Tax Invoice was for the month of April so you can claim ITC in April.

Surjeet Negi (947 Points)
Replied 26 October 2019

RCM credit would be available in the month of April when payment is made basis the self invoice. Agree to above reply to.

Hardik (Professional) (918 Points)
Replied 26 October 2019

You can take the credit of RCM tax paid in the same month in which you paid it..

subhagan sreerangam (7039 Points)
Replied 27 October 2019

Yes you can take the RCM credit ,if RCM tax paid in the same in which you paid.

Krishna Murty (x) (161 Points)
Replied 27 October 2019

I am having a doubt kindly clarify

My Company has created provision for commission expenditure in books on 31-03-2019. i.e for the F.Y 2018-19. But GST self Invoice (Revere Charge Invoice) was raised on Dt.01-04-2019 for provision expenditure created in the F.Y 2018-19. In future is there any problem with GST department for claiming input tax credit.in the F.Y 2019-20.