10 January 2018
Reverse Charge on GTA is still applicable. Service recipient will pay Tax under RCM basis... RCM still applicable Section 9(3) related activities... GTA service u/s 9(3)...
Sec 9(4) related activities only suspended Upto March 2018...
11 January 2018
Sir in GTA reverse charge 1) I should pay reverse chargeable tax amount and i should claim ITC of this amount paid.Is that this provision says?
11 January 2018
ok,such payments are upto the books or else any real transaction sholud appear in gst cash ledger.Please help me ,how could i make such payment for gst return purpose
11 January 2018
If your RCM related inwards on Dec-17 Ex. GTA Rs. 10000. You will be pay tax @ 5% Rs. 500 Cash (CGST Rs. 250 & SGST Rs. 250) on or before 20th Jan-2018...
Now, In Dec-2017 GSTR 3BYou will show the details in Column - 3.1. (d) as Taxable Value Rs. 10000 and Central Tax Rs. 250 & State Tax Rs. 250...
Cash payments automatically adjusted in Column - 6.1 (B)...
11 January 2018
In Jan-18 GSTR 3B return you can Take the Rs. 500 as ITC... You will show the details in Column - 4 - Eligible ITC (A) (3) Inward supplies liable to reverse charge (other than 1 & 2 above) as Central Tax Rs. 250 & State Tax Rs. 250... After You can see the ITC value in - 4. (C) Net ITC Available (A) - (B)...
11 January 2018
Sir,it means inward supply received through rcm,then tax amount should be paid in a month and its ITC should be claimed in next month.Is it? I thought that both rcm supply's tax amount and ITC should be claimed in same month's return, so there would be no cash payment,but we get only dummy entries in the return.
11 January 2018
Cash Payment is mandatory.... No way for escaping without Cash Payments... As per my view and Practice Take ITC in Next months for the RCM related Tax...
But., Some other experts says will be taken in same month. It's may be or exactly correct as may be. But., I'm not practice this way...
Note : Cash Payment is must for RCM related activities...
CAclubindia
