Hi,
we have franchise agreement with foregin company and quarterly invoicing is mentioned in the agreement but foregin company is not issuing invoice since long.
do I need to deposit advance gst under Reverse charge without receiving any invoice ?
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Point of taxation under reverse charge
Replies (8)
As per section 13 CGST Act
RCM can be paid on :
the date of payment as entered in the books of account of the recipient or the date on which the payment is debited in his bank account, whichever is earlier.
So you can Raise payment Voucher as per (Sec 31(3) (g) – Rule 52 & do the RCM
Note : Kindly raise self tax invoice also
RCM can be paid on :
the date of payment as entered in the books of account of the recipient or the date on which the payment is debited in his bank account, whichever is earlier.
So you can Raise payment Voucher as per (Sec 31(3) (g) – Rule 52 & do the RCM
Note : Kindly raise self tax invoice also
Neither we have made the paymemt nor we have received the invoice then what we will do here
The time of supply can also be the date of entry in the books of account of the recipient of supply or the date of payment.
So if you book the Qtly invoice as per aggreement can do the RCM
So if you book the Qtly invoice as per aggreement can do the RCM
every year we make new agreement this year we have not made yet but we are using his brand name and usp ..we are not booking invoice because we have nothing in hand
THEN DEAR,.. WHEN NO PAYMENT HAS BEEN MADE, NO BILL HAS BEEN BOOKED & NO AGGREMENT IS MADE , ..... NO NEED TO DO RCM
can it be taxed under continuous supply ???
BUT THERE IS NO SUPPLY, ....
Time of supply for RCM on import of service is earliest of following: date of payment or 60 days from invoice date or date of entry in books of recipient when first two are not determinable
If no payment made nor invoice raised , tax liability would arise when your co being recipient is booking entry for such expense in books
Also confirm if it is associated enterprise-if yes tax liability arises on date of entry when book entry is passed by recipient in books or date of payment whichever is earlier
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