Pavan Kumar (Student CA IPC / IPCC) (91 Points)
04 September 2017Dear Experts,
We have to pay gst on rent under reverse charge mechanisam.For that how to pass liability entries and where to show this liability gstr-1 or gstr-2.How to claim input credit.Please explain
Ajay Kumar Maggidi
(Manager - Finance & Accounts)
(2073 Points)
Replied 04 September 2017
Hi Pavan
you may pass following entry
Rent Dr
CGST Input but not due A/C Dr
SGST Input but not due A/C Dr
To CGST Output A/C To
SGST Output A/C
To TDS Payable A/C (if)
To Party A/c
you will get the input after payment to govt
you have to show it GSTR 1 and as well as in GSTR 2
Pavan Kumar
(Student CA IPC / IPCC)
(91 Points)
Replied 05 September 2017
Thank u ,
I have one more doubt i passed journal entries for purchases made from urd as well as rent expenses.But entries reflecting GSTR-2 only not in GSTR-1 .Is it right ?
CAclubindia
