Procedure for making payment under reverse charge mechanism
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 September 2013
what is the procedure to make payment under Reverse Charge mechanism?. is it the same way to make payment under gar-7?
20 September 2013
It is same as payment of service tax as service provider
Message likes :
1 times
21 September 2013
Yes, it is the same method. The following additional points are to be observed.
1) Use separate challan for individual reverse charge services
2) For reverse charge, input cannot be availed.
3)After Reverse charge payment, it can be adjusted against your output tax due. The same challan is the document to be treated as cenvat document.
1) Use separate challan for individual reverse charge services
2) For reverse charge, input cannot be availed.
3)After Reverse charge payment, it can be adjusted against your output tax due. The same challan is the document to be treated as cenvat document.
Message likes :
2 times
21 September 2013
Very well explained Mr. Rengaraj
22 September 2013
Thanks Suresh Jain Ji.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
