You are liable to pay RCM as IGST @ 5%.
ITC Is available in the gst paid month.
Which software you are using?
Using Tally software
Please also suggest will frieght shown in purchase entries or not?
Some people saying that you needs to pass This type of entry in Purchase voucher in tally.
But don't follow this instruction because it is not you purchase.
It will be very illogical if you pass this type of entry in Purchase Voucher in Tally.
You can use journal entry and then pass payment entry.
After that same amount will be reflect in GSTR - 2 I have already did this and it's working 200%...
So don't go for expenses entry in purchase voucher make entry in journal voucher... Still Same will be reflect in GSTR 2...
yes already posted entry in journal or payment voucher, but when we r creating Gstr-2 then it shows in inward figure. n same we also have some exempted frieght which added in tax free goods amount while creating 3-b & gstr2
It will be reflect in B2B Invoice in GSTR 2... If you made all ledger correctly.........
n some frieght is exempted. n i created different account for nil rated frieght n that frieght is showing in Gstr-3B in the figure of purchases. ( purchase +frieght) not showing as frieght,
plz suggest it is right or wrong or i can also send u screenshot
n some frieght is exempted. n i created different account for nil rated frieght n that frieght is showing in Gstr-3B in the figure of purchases. ( purchase +frieght) not showing as frieght,
plz suggest it is right or wrong or i can also send u screenshot
Send screenshot
Yes your adviser Mr. Raja P.M. is 200% correct.
The following step to be followed:-
1) Pass the journal entry.
2) Increase of Tax liability
3) Paid the the reverse charge
4) Increase of ITC...
file is not uploading someproblem; i purchased from out of punjab n GST on frieght is exempted so i create account under interstate nil purchase n then total purachse amount is with frieght showing in gstr-2 & also in 3B.
If you paid reverse charge on 20.08.2017 then ITC shall be utilize on or after the payment of RCM.
So you can't take ITC or make the entry in tally untill you paid reverse charge.
So Reverse charge paid on 20.08.2017 shall be utilized on 20.08.2017...
My personal suggesion:-
Reverse charge paid in Aug for the month of July:-
you can pass only 1 entry and take full ITC on 31.08.2017. I did this in my book of accounts..........
In that case you don't needs to pass many entries in the same month of Increasing of ITC....
CAclubindia
