Sir

Reverse charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply. Thus liability to pay GST to government is of Receiver of those Goods / Services.

Normally , Recipient is eligible credit of this gst paid under reverse charge , provided conditions mentioned in gst credit rules satisfies.

( Hence below will be the accounting entry in books -
Freight Expenses ----------- DR 100
GST Receivable -------------DR 5 - [Cr.eligible on payment]
Transporter ---------------------CR 100
GST Payable-------------------- CR 5 )

However in case where the final product of Recipient is exempt under GST , credit of gst paid under reverse charge will not be available.

In this case question arises whether "the liability to pay tax" means "responsible to bear the expense".
Whether recipient should treat gst paid under reverse charge as his expenses or he can deduct the same while making payment to transporter. In both the cases gst paid under reverse charge will remain same.

( In our example , below will be the 2 different views -
View 1.
Freight Expenses ----------- DR 105
Transporter ---------------------CR 100
GST Payable-------------------- CR 5
View 2.
Freight Expenses ----------- DR 100
Transporter ---------------------CR 95
GST Payable-------------------- CR 5)

Whether both of the above views are correct.
Any supporting explanation / notification in gst.

Kindly Advice,

Dear sir,

ocean freight (RCM) we have mentioning under A(3) i.e inward supplies liable to reverse charge but we heard some where we have to mention under table A(2) i.e Import services, which one correct sir?

1) which services will come under import services..

Res sir, Maine Dec 19 me gstr 3b me dusri party ka pur bill by mistake claim ho gaya hai to mai ab iske liye kaise reverse karo jo party ka liya hai usko debit note issue kar ke karu kya dusra option bataye

Dear Team,
My Clint his filled Return of A.Y 2017-18 by mistake any tax consultant form ITR 4 but my Clint his Salaries and relevent year received salary from his company now as per ITR tax Refund and as per income tax computed tax liability and his more then rectification filled In-spite of this income tax department said tax liability now what should i do.for refund and right returnn
Thanks & Regards,
Shivrat Yadav

As per Finance Minister any Notice, Proceedings etc issued on 20-03-2020 have been extended to 30.06.2020.
Whether notice issued on 19-03-2020 u/s 133 whose due date of submission is 26-03-2020 stands adjourned to 30-06-2020 automatically or whether it is liable to submitted on 26-03-2020?

I am the Accountant of Construction Company I have one Doubt about the Subcontract Expenditure In Expenses in Books of Accounts of the Company

Site Expences and Labour and Other Expenditure Related to Site And Office we have Given a Sub Contract to One person he is Regularly giving the bill and We are Clearing the bill after Deducting TDS Now my doubt is How to that Expenditure in my Books of accounts, Can i Pass Journal Entry Item wise Like Site Expences ,labour Charges

Please give me the Suggestion on the above Query

Dear sir,

Month of Feb'2020 GSTR-3B Return we have declared input wrongly.Actually we have to pay amount under CGST/SGST, payment also made on 20.03.2020 due to input declaration wrong setoff done via credit ledgers CGST/SGST , now we have excess credit in ledger and current ledger also showing our payment.

In this connection can we reverse excess credit for next month?
can we liable interest on wrong declaration of Input? if liable howmuch percentage and from which date i have to take for calculation.

Today's FM announcement is not clear. What are the date of filing GSTR3B for March, April, May. What is the due date for filing GSTr1 for Jan-March 2020.
If anyone has clarity, can you please provide clarity.

Sir,

Scenario is i took personal loan of 4L for my marriage expenses this month (march 2020). i have done FD by adding my saving to my loan amount for one year as the occasion is cancelled. My question is.

1. How to show the sum amount deposited as FD in ITR ( Salaried person). Is it taxable. How ever the bank interest is taxable.
2. Can the sum be shown as saving.

Please do suggest.

Thanks,
Sagar

hi sir,

this is santhosh from hyd i need one help this current year from our company 1 crore above cash withdrawal-ed by bank they are deducted 2% tds how to pass tds entry on cash withdrawal in tally pls do help