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GSTR 1

Somen Dutta (Asst. Accountant) (43 Points)

07 March 2018

Sir,
When we are perform as recovery agent, provide service bill to bank without charging GST as per RCM of GST.
Now
what is the treatment in return as exempt/ nill rated / taxable?
Thanking You.

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5 Replies

Gagan Singla (564 Points)
Replied 07 March 2018

you have to tick option in gstr -1 as the liability is to pay tax is on receiver, so your tax liability is nil. as per section 17 its written there that the services which are liable to reverse charge will be treated as exempt supply for the provider, so you can give thed figures of ur sales in exempt sales column.

1 Like

sujith kumar dasa (banglore) (1496 Points)
Replied 07 March 2018

taxable. Show in B2B supplies and select RCM

1 Like

Aashish Sachdeva (839 Points)
Replied 08 March 2018

As per my opinion yoy have to select Reverse Charge option in GSTR .

It is my personal opinion, if anybody have different view then views are welcome. thanks. Disclaimer: it is not Professional Advice.

Somen Dutta (Asst. Accountant) (43 Points)
Replied 08 March 2018

if I'm use as taxable and put up in to b2b then and select RCM and tax zero by manually but after download of gstr1 summary , show tax liability by auto calculate.