Hello, we providing locker services to banks, as a service provider there is issue in one bank regarding rcm.
Bank will pay GST as per invoice nd that thing we know recently nd otherside we have also paid tax for invoices, we have tried to convince bank to refund tax money but they denied
Now in this case when both parties have paid tax then how can we get refund money
Is there is any possible way?
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Rcm paid by buyer and supplier
Replies (3)
Reverse it in your subsequent return
But how can I do? Plz describe it
Reduce you Tax Value which you have wrongly charged in Bill from Your next Month sale.
Suppose If for October month if your Total Tax Liability is 100 . & wrong Tax Charged is RS. 20 , then Report Tax liability only 80(100-20) for October.
Note : Amend all those wrongly issued invoices in GSTR 1 Also by Amendment Table
Suppose If for October month if your Total Tax Liability is 100 . & wrong Tax Charged is RS. 20 , then Report Tax liability only 80(100-20) for October.
Note : Amend all those wrongly issued invoices in GSTR 1 Also by Amendment Table
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