Rcm on rent from october

390 views 1 replies
User Avatar

47 Points Joined August 2017
how to affect rcm on rent from 10-10-2024 ,if i file nil return ?
0 Reply Share Follow
On 17 October 2024 at 12:22 Report
Replies (1)
User Avatar

Master in Accounts & high court Advocate
9525 Points Joined December 2011

if you file a nil return:

1. Declare the rent income in the "liable to pay" section of the return.

2. Mention the RCM liability in the "tax payable" section.

3. Show the tax paid (if any) in the "tax paid" section. Even if you file a nil return, you must report the RCM liability and pay the tax due.

Failure to report or pay RCM liability may result in penalties and interest.

Additionally: - Ensure you have an active GST registration. - Obtain an invoice from the landlord, including GST at the applicable rate (currently 18%). -

Pay the GST on rent to the government. - File Form GSTR-3B (summary return) and GSTR-1 (detailed return) to report the RCM liability. 

Reply
On 17 October 2024 at 14:00


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading