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Purchase under reverse charge

RCM 488 views 19 replies
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student
36 Points Posted on 24 October 2017

Purchased from unregistered dealer. Value on the bill given by him is 10000. It attracts 5% under reverse charge

In GSTR2 under table 4B, what will be my taxable value and invoice value. Should the invoice value be the same as given in the bill produced by him or should it be 10000+5%?  Please reply

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On 24 October 2017 at 21:50 Report
Replies (19)
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"Do the Right Thing...!!!"
128152 Points Posted on 24 October 2017
yes....
10000 + 5%.....
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On 24 October 2017 at 22:21
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propriter
30 Points Posted on 24 October 2017
yes 10000 and next column5%
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On 24 October 2017 at 22:37
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student
36 Points Posted on 24 October 2017
But the invoice generated has only 10000 on it
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On 24 October 2017 at 22:39
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student
36 Points Posted on 24 October 2017
But the invoice generated has only 10000 on it
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On 24 October 2017 at 22:39
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student
36 Points Posted on 24 October 2017
So how can the invoice value be 10000+5%
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On 24 October 2017 at 22:41
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"Do the Right Thing...!!!"
128152 Points Posted on 24 October 2017
That is RCM...
In case it's from registered dealer then he ll be charge 10k + 5% tax....
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On 24 October 2017 at 22:43
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student
36 Points Posted on 24 October 2017
He is unregistered so there is not tax value in invoice. My doubt is what is the invoice value to be entered
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On 24 October 2017 at 22:49
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Chartered Accountant
86505 Points Posted on 24 October 2017
No need to show invoice value for RCM in GSTR-2........

You have to give taxable value only..
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On 24 October 2017 at 22:51
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"Do the Right Thing...!!!"
128152 Points Posted on 24 October 2017
It's very bad....



Where is it show the Taxable value..?
Which is Taxable value from URD purchase...?
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On 24 October 2017 at 22:54
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propriter
30 Points Posted on 24 October 2017
rcm invoice mention na value 100000 and sgst 2.5% and cgst 2.5% correct
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On 24 October 2017 at 22:56
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"Do the Right Thing...!!!"
128152 Points Posted on 24 October 2017
Yes...
You are exactly correct Mr Shankar Yadav Sir....!!!
👍👍👍👍👍👍👍👍👍👍
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On 24 October 2017 at 23:00
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GST Consultant
15986 Points Posted on 24 October 2017
The invoice value which has to be entered is for the invoice generated by recipient so it will be taxable value + gst
1 Reply
On 24 October 2017 at 23:58
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propriter
30 Points Posted on 25 October 2017
welcome Raja sir
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On 25 October 2017 at 08:09
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4 Points Posted on 27 October 2017
Hi guys I'm new here,,, I would like to know what is RSM and how it works,,, and when it is to be done,,, would anybody help,,,, even you guys can share link of that article where there is all information exists

Will be thankful to you guys
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On 27 October 2017 at 09:22


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