HOW PAY RCM AND REVERSE IT .PLEASE CLEAR THE ENTRY OF THIS TRANSACTION.
AND
HOW SHOW IN GSTR 3B .
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
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 .
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 .
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