dear friends
we receive bills from GTA, import of service . which are under RCM
1) when we have bills available, do we need to do any self invoicing ? .we can.simply show consolidate rcm liability under 3 b , pay in cash ledger and take credit in same.month
2 ) GTRR 3b liability will be more than GSTR1 AS WE DONT SHOW RCM LIABILITY IN GSTR1
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Reverse charge related gst
Replies (15)
Self Invoicing is necessary
Liability of RCM is to be shown under a separate column, which is different from liability related to outward supplies. Therefore liability of RCM will have to be shown in GSTR-3B and it has no relation with GSTR-1
Self Invoicing is necessary
Liability of RCM is to be shown under a separate column, which is different from liability related to outward supplies. Therefore liability of RCM will have to be shown in GSTR-3B and it has no relation with GSTR-1
Thanks a lot for the reply.
just a point , we r paying 5% as RCM Liability. the transporter is issuing invoice with only basic amt and mentioned remark RCM applicable. in that case too self invoicing required
just a point , we r paying 5% as RCM Liability. the transporter is issuing invoice with only basic amt and mentioned remark RCM applicable. in that case too self invoicing required
If the transporter is registered under gst then no self invoice otherwise self invoicing needs to be done.
Thanks a lot Altamush sir for the reply. here the transporter has GSTIN registration and they will be filling return as either Nil rated or exempted supply in GSTR1. which will reflect in 2A or 2B
Then no need for self invoicing. Just pay RCM and claim ITC in your GSTR-3B
Hello Altamush sir
if we alter the ITC figures in 3b autopopulate from 2B more than 5%, and take more credit as per 2A
system shows red flag
any issue in it
if we alter the ITC figures in 3b autopopulate from 2B more than 5%, and take more credit as per 2A
system shows red flag
any issue in it
Always show correct/actual figures of taxes under RCM and claim ITC. Because in most cases suppliers of supplies covered under RCM are unregistered and therefore their invoices do not reflect in gst returns. If the boxes turns red for claiming itc there is no issue as long as you have paid RCM
Altamush sir this query was not specific to RCM but
all other ITC appearing in 3b as per 2b
if we alter it more than 20 % to match with 2a figures which are more
any issue in it...to.avail excess as per 2a and not 2b
all other ITC appearing in 3b as per 2b
if we alter it more than 20 % to match with 2a figures which are more
any issue in it...to.avail excess as per 2a and not 2b
I personally favour matching according to GSTR-2B. You can however if you want can go according to GSTR-2A. As such there will be no issues if it turns red but you are taking as per GSTR-2A. Just keep appropriate records and save GSTR-2A date wise since it is changes wherever any supplier files returns for that specific month later on.
Thanks a lot altamush sir. really appreciate your prompt reply. keep the good work
You are most welcome
Can you please clarify some doubts for RCM on import of services.
1. DO we have to pay rcm on import of services like web hosting, licenses, etc.?
2. If yes than we have to raise self invoice as foreign company is not registered?
3. If foreign company is registered and have PAN No. Still we have to pay rcm by generating self invoice?
4. If under QRMP Scheme do i have to pay rcm and normal tax in 2 different chaalans. Also can i claim the ITC in the same month as it will
not refelct in GSTR 2B
5. Self invoice where we have to upload in GST Returns?
6. For Import of Services Which GST Returns we have to file under QRMP Scheme
7. How to claim ITC in self invoicing as it will not reflect in GSTR 2B under QRMP Scheme.
1) Yes it is import of service - RCM applicable
2) Self Invoicing required
3) If foreign company registered in India and services provided from India then not an import
4) Can be made through a single challan. There is no issue
5) No uploading of self invoicing is required. Only ITC is claimed
6) GSTR-1 & GSTR-3B. No specific return for import of service
7) Claim in GSTR-3B
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