Festive Savings Are Here. Get 10% OFF on All CCI Pro Plans. Subscribe Now!

RCM SUPLLY -HOW TO SHOW IN GST R 1

281 views

Save Share

Join Us Follow Us Add as Source

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

Replies (2)

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.