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RCM paid by IOCL on transport contract
Where to declare Taxable Turnover where GST os borne by IOCL on RCM basis..??
Replies (1)
Can be reported in table 3.1 (a) GSTR 3B , without putting any tax in corresponding tax column . (As it's taxable supply , & only the liability to pay is shifted on Receptient)
And in GSTR 1 need to be reported in table 4 by clicking the option RCM Applicable therein.
Note : In 3B it can be also reported under 3.1 ( c) , but it's better to report in above said table
And in GSTR 1 need to be reported in table 4 by clicking the option RCM Applicable therein.
Note : In 3B it can be also reported under 3.1 ( c) , but it's better to report in above said table
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