Reverse charge entry

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709 Points Posted on 21 July 2020
hi, freight 10500 2% tds, please tell rcm entry.
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On 21 July 2020 at 12:20 Report
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This discussion clarifies the Reverse Charge Mechanism (RCM) entry for freight charges, specifically when GST is applicable at 5%. It explains how to post the RCM entry, including the relevant debit and credit entries. The advice covers reporting the RCM amount in GSTR 3B, column 3.1 for inward supplies, and how to claim the Input Tax Credit (ITC) for the paid tax via GSTR 3B, column 4.

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1102 Points Posted on 21 July 2020
Yes, RCM will applicable in case of frieght
GST rate @ 5%
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On 21 July 2020 at 14:03
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709 Points Posted on 21 July 2020
How we post rcm enty
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On 21 July 2020 at 14:06
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1102 Points Posted on 21 July 2020
In GSTR 3b
column 3.1 , there is one column available inward supply under RCM
here you have to put value with tax...
this payment, you have to pay only through Cash then take ITC for same in GSTr3b in column 4
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On 21 July 2020 at 14:12
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Tax Consultant
1024 Points Posted on 21 July 2020
RCM 5% on freight amount
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On 21 July 2020 at 15:44
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709 Points Posted on 21 July 2020
Entry, what we debit and what we credit
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On 21 July 2020 at 15:46

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