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HOW PAY RCM AND TAKE ITC

makkhan sharma (203 Points)

22 August 2017

HOW PAY RCM AND REVERSE IT .PLEASE CLEAR THE ENTRY OF THIS TRANSACTION.

AND
HOW SHOW IN GSTR 3B .

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2 Replies

upasana gupta (Finance Professional) (3931 Points)
Replied 22 August 2017

You can visit this link for detailed information https://www.cbec.gov.in/resources//htdocs-cbec/gst/reverse-charge-mechanism-08aug2017.pdf

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makkhan sharma (203 Points)
Replied 22 August 2017

I DID NOT UNDERSTAND BY THIS LINK .

IF I PURCHASE GOODS OF RS .10000/- FROM AN UNREGISTERED DEAR AND I DEPOSIT OR CALCULATE 1800/- OF CGST AND SGST ON THIS URD PURCHASE .
HOW I WILL TAKE ITC OF RS.1800/-AND REDUCE IT IN PAYABLE GST .

FOR AN EXAMPLE :

CGST PAYABLE ON URD PURCHASE -900
SGST PAYABLE ON URD PURCHASE-900
LESS- RCM ON URD PURCHASE CGST-900
LESS- RCM ON URD PURCHASE SGST-900
BALANCE PAYABLE -00

IS THIS IS CORRECT WAY OR NOT ?
PLEASE EXPLAIN .