In case we need to charge TCS @ 0.10% in invoice, invoice value will be as follow:
for e.g.
Taxable Value - 10000
gst @ 18% -1800
tcs (11800*0.1%) -12
Total invoice value - 11812
and while filing GSTR 1, I normally seen, we report taxable value as Rs. 10000, gst as Rs. 1800 and invoice value Rs. 11812, due to which mismatch in return arises.
In my opinion, we should report total invoice value as Rs. 11800 for the purpose of GST.
Which treatment is correct?
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Total invoice value in GSTR 1
Replies (9)
TCS should be collected on 10000 rupees
It is tcs under 206c (1H) and therefore should be on Rs. 11800
Yes agree with anmol it should be on net amount
I am asking about whether it should be included in total invoice value. My view is that it should also be excluded from total invoice value.
No, It should be included in total invoice value
It should be included in Total invoice value, to match with GSTR-2A which reflects to your customer and with your invoice Copy.
What if we add another column as follow:
total Invoice value -Rs.118000
add: tcs-118
total amount receivable-118118
in this way we can show invoice value as Rs. 118000 in gstr 1 (many firms follow this practice)
total Invoice value -Rs.118000
add: tcs-118
total amount receivable-118118
in this way we can show invoice value as Rs. 118000 in gstr 1 (many firms follow this practice)
If you have generated an E-Invoice under GST for this then enter the amount that you have mentioned in E-Invoice. If E-Invoice is not generated then enter the amount including TCS. Currently there is no validation on GSTN for taxable plus taxes equal to Invoice value. So you can do this.
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