RCM-tds reversal- foreign co.

Miss Riya (working) (14 Points)

30 March 2023  

1. How to reverse RCM in GST when imported service are cancelled ?

2. how to reverse TDS deducted under 195 - 27Q ( service relates to fy21-22, credit note issued in Dec2022). Will this also attract any penalty?

3. Branch company in India is charging interest to its head office in foreign, how to record? Do we need invoice mandatory from them,  or we can simply pass journal entry as expense for the same.

4.  Is it mandatory to receive invoice, for above TDS deduction? (ref point 3)