Rcm in GSTR3B and GSTR1

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harendra

worker

47 Points Posted on 16 April 2021

Sir

I request you pl help-

I filed GSTR1 under QRMP

I have purchse invoice of 26 march 21 and LR of transport is of 27 march 21 (under reverce charge) I received goods on 1april 21 with delivery invoice of transport for Fy 20-21,

so reverse charge mai invoice kis month mai banega march/april. itc of reverse charge ka credit kis month mai le sakta hu . invoice under reverse charge, GST1 of march 21 main upload karna rah gaya he to usko kab upload kar sakta hu. Rcm ka payment gstr 3B of march mai or april mai kar sakta hu ? Such condition RCM credit kab le saktahu

Replies (3)

CMA Poornima Madhava

CMA

13117 Points Posted on 16 April 2021

Time Of Supply in case of Services: In case of reverse charge, the time of supply shall be the earliest of the following dates: a) The date of payment b) The date immediately after 60 days from the date of issue of invoice by the supplier If you have made payment to the transporter in March, you may consider the same for March itself.

harendra

worker

47 Points Posted on 16 April 2021

Thanks for FY 20-21 no RCM invoice issued all left issued so in such case how to treat, goods and transport invoice received on 1 april21 of goods supplied on 26 MArch21 all liabilities and itc treat fy wise ?? how to treat this RCM invoice left unissued and itc not utilised and payment of RCM not paid

CMA Poornima Madhava

CMA

13117 Points Posted on 16 April 2021

You may make purchase entry during last FY and treat the goods as IN TRANSIT. You may avail ITC on purchase during April 2021. Further, since you have paid the transporter in April 2021, you may create RCM liability during April and avail ITC too during April.