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RCM SUPLLY -HOW TO SHOW IN GST R 1

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Sanjeev Saini

Manager

34 Points Posted on 25 August 2022

BANK COLLECTION AGENCY PROVING SERVICES TO BANKS WHICH COMES UNDER RCM SUPPLY.

WHEN FILE GSTR-1 , "SUPPLY ATTRACTS REVERSE CHARGE IS ENABLED" BUT WHAT TO SHOULD WE IN " Total invoice" and Taxable Value.

i.e Service provided Rs 10000/-

how to in gstr-1 "Total invoice value" = 10000 or 10000 plus 18% GST = 11800/-

and Taxable value = 10000 and tax column 18%

please clarify

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Quick Summary

This discussion clarifies how service providers, specifically bank collection agencies, should report supplies attracting Reverse Charge Mechanism (RCM) in their GSTR-1. It addresses confusion regarding the 'Total invoice value' and 'Taxable value' fields when RCM is enabled, seeking guidance on whether to include GST in the total invoice amount.