CCI Online Learning
What do you want to learn today?
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

How to take ITC of GST Paid on Reverse Charge?


Hardik Hindocha   07 October 2019

Hardik Hindocha

 115 likes  918 points

| My Other Post

I'm a registered supplier and I took GTA Services, and paid 5% tax on RCM basis. I took ITC in GSTR 3B of next month, but Which invoice details do I need to incorporate in GSTR 1 in order to avail ITC of tax paid? I need to fill Invoice details of GTA or I need to make my own Payment Voucher and fill in the Voucher number in GSTR 1? Please guide..

avater

sujith kumar dasa (banglore)     07 October 2019

sujith kumar dasa
banglore 
 80 likes  1375 points

View Profile | My Other Post

GSTR-1 return is return of outward supplies and hence no details of RCM is required to be shown in GSTR-1. Since for RCM you have to issue payment voucher and RCM self invoice in case of purchases from unregistered purchases, those documents issue details for the month can be shown in documents section of GSTR-1

1 Like
avater

Pankaj Rawat (GST Practitioner)     07 October 2019

Pankaj Rawat
GST Practitioner 
 3423 likes  46436 points

View Profile | My Other Post

1. Not required to report RCM deposited in GSTR 1 as its Inward supply.

2. As per section 31(3)(f)(g) a person paying tax under RCM is required to generate self tax invoice & payment voucher .
As of Today There is no return format is available for reporting of Inward supoly invoice wise . Hence nk need to Report ,the same .

1 Like

Anshuman Basu (account -GST)     08 October 2019

Anshuman Basu
account -GST 
 43 likes  1167 points

View Profile | My Other Post

Thanks sir, no need to disclose RCM in GSTR 1

1 Like
avater

Hardik Hindocha   08 October 2019

Hardik Hindocha

 115 likes  918 points

View Profile | My Other Post

Thanks for your replies!! Much appreciated!!


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Related Threads


Loading

Popular Discussion


view more »



Trending Tags
taxpayers
newgstreturn
traces
gstr 9
exams
ca rankholder interview
pm cares fund
dgft
tds
tcs
gst
icsi
accounts
cag
VAT
shares stock
itc
Professional Resource
custom
companies act 2013
Others
gst return

GST Live Class    |    x