RCM Accounting Entry and Payment
This query is : Resolved
07 January 2025
If a business entity renders service (RCM) to an unregistered party, how will the GST be paid and by whom under RCM ?
What will be the accounting entry in the books of The recipient?
What will be the accounting entry in the books of The recipient?
07 January 2025
First of all, in most of the cases if supplier is registered dealer, GST will be charged under FCM.
If any service is specified under RCM, the recipient would be either registered or need to mandatory register under GST.
Under RCM concept recipient is liable to pay GST.
If any service is specified under RCM, the recipient would be either registered or need to mandatory register under GST.
Under RCM concept recipient is liable to pay GST.
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