Gst rcm
This query is : Open
25 July 2017
GST RCM reflected which number return.(GSTR-1 OR GSTR-2)
25 July 2017
In RCM you are the recipient. All goods and services received have to be uploaded in GSTR-2
25 July 2017
You will inter the RCM amount in your own name in GSTR-1 and it will be shown as an Input Tax Credit in GSTR-2.
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25 July 2017
Tax paid on RCM is not a part of Output Tax nor the supply received in case of RCM comes under Outward Supply. GST paid on RCM is a part of input tax and it is an inward supply. The tax payer will have to fill the information in GSTR-2. If such invoice is filled in GSTR-1 then it will pose a problem in Annual Return where reconciliation will be done with Financial Statements.
25 July 2017
It is to be shown in GSTR-2 in column no.4 (either 4A or 4B depending on the nature)
25 July 2017
Yes. Mr. CA Altamush Zafar is said exactly what is wrong and good....! I agreed to Mr Altamush Zafar.....
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