Master in Accounts & high court Advocate
9610 Points
Posted on 03 October 2024
Since you have a private limited company (Pvt Ltd) and have received a service bill from a GST-unregistered CS (Company Secretary) for ITR filing services worth Rs. 8000, RCM (Reverse Charge Mechanism) is applicable. As the service recipient, your company (Pvt Ltd) is liable to pay GST on the service received under RCM. You will need to pay GST on the invoice value of Rs. 8000. The GST rate for services related to ITR filing is typically 18%. However, please verify the GST rate applicable to this specific service. To calculate the GST amount: GST Amount = Invoice Value x GST Rate = Rs. 8000 x 18% = Rs. 1440 You will need to pay Rs. 1440 as GST under RCM. Additionally, you may also need to file GSTR-3B and GSTR-1 to report this transaction and pay the GST amount.