Reverse charge invoice creation

Hi deepak

If a registered person receives goods or services from unregistered persons such registered person shall liable to pay GST under RCM basis, provided that such inward supplies exceeds Rs. 5000 per transaction per day

A. Registered Person who pays tax under RCM shall Issue a Payment Voucher to Supplier

B. you should book GST liability in your books for such inward supply

C. yes, you have to show it in GSTR 1

1. You have make a self named consolidated invoice at the end of the month, 2. You can't t do the same entry twice as you have already enter your all expenses And at the time of consolidated invoice you have to make that one in excel and you will pass the entry of tax only 3.You have to pass that entry in gstr2 in column no. 4B

Mr. Singh I want to know that in case of self invoice,in case of rent paid to unregistered landlord then bill to be raise in the name of landlord with yes option on RCM in bill,so please suggest that I am correct

but RCM entris where is shwon in GSTR-1 or GSTR-2.

No, You have to raise self invoice , We are going to take input of tax paid not landlord , And please maintain separate invoice serial no. for RCM invoice, So you have to make only 12 invoice for RCM ,And also maintain separate "voucher Type " For payment ( You can easily prepare Voucher type in tally for payments )to get correct serial no. to fill in payment voucher serial no. Under column 13 of Gstr1 ,. Mr. Vikram ji you have to enter RCM entries in column 4B of Gstr2

Mr.Singh ,so what is the use of GST invoice in which mention like that reverse charge payable ( yes/no).

Is it required to be filled in GSTR 1(apart from docs issued) if yes how and where?

Ankur ji, You can also use that invoice , And can maintain each payment wise invoice, But To make your work easy , You can make a consolidated invoice and separate invoice no. for RCM , If you can maintain each payment wise invoice and want to keep your same serial no. then you can also use it, But on invoice name you have to fill your name, And In particulars you have to write Like this " Rent paid to sham etc."

Can we prepare consolidated Invoice of RCM for every month or should it be for every day ???

One consolidated Invoice can be raised-Please shaare the legal support.

Also please share the self invoice(signed copy)- if anyone has raised.

Thaks.

 

thanks Singh ji

All of you understand the meaning of "SELF INVOICE".

This purpose only we can calculate the Tax values for RCM payments. Not, Produce anywhere.

You can prepare Consolidates or Single Transaction based.

If you prepare Consolidated you can separate as Tax rates. Dont be create whole transaction in one Invoice. But, Its not useful for segregate your accounts.

If ypu prepare Single transaction based you can exactly find out this to Payment Voucher. Then accounts handled easily...

Also you must not it "Revese Charge - Yes/No as YES"

 

So, Decided in Your choice based on uses...

 

Click here to see RCM Self invoice pdf format. if you want free\paid version email to exshail @ gmail.com.  

 

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