Ad Free CAclubindia and Daily Updates on your Mobile. Subscribe Now!

RCM on Rent , where do we file in GSR1 or GSTR2?.

01 September 2017

I showed RCM on RENT in GSTR3B , Could please advice me on below noted ,

where do we file RCM on rent ?. is it in GSTR1 or GSTR2 ?.

How do we recorded RCM on expense services received from unregistered person in gstr return?.

Thanks & Regards
Shinoj

Reply
Follow
Share

8 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 01 September 2017

You can show in GSTR 2...

Upgrade to CAclubindia Pro. Subscribe Now!

venkateswararao (paid assistant) (132 Points)
Replied 03 September 2017

it comes in GSTR 2

1 Like

venkateswararao (paid assistant) (132 Points)
Replied 03 September 2017

if you receive services from URP and your aggregate payment in a day exceeds rs5000 then u have to pay Under RCM and you have to prepare self invoice for RCM

1 Like

Karisma (Articleship) (31 Points)
Replied 12 September 2017

Originally posted by : RAJA P M
	You can show in GSTR 2...

We show it in GSTR 2 in 4B. Is that right ? Also when do we get to claim this ? As in For July we already paid the GST on rent by showing it in 3B. Now we are showing the same in july GSTR2. But when do we get this money back ?

Upgrade to CAclubindia Pro. Subscribe Now!

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 12 September 2017

1. Yes. You are right.

2. You can claim the same moths return.

3. You ll be show in GSTR 2. You can adjust your liability in the same return...

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 12 September 2017

Dear Karisma.,

First of the GSTR 3B and GSTR 1,2 &3 is no more links. The GSTR 3B is just based two months return form. Bcoz, The GSTN can't ready to GSTR 1,2 & 3. The GST liabilities received from the way of GSTR 3b and we file the return and paid the liability on the date.

So, Govt get their Tax amounts from the way of GSTR 3B...

GSTR 1, 2 & 3 is the exact return forms for Future (from July 17) return. We follow the return form as our Transaction based activities. It's one of the activity of URD purchases ll be shown in GSTR 2 form.

Finally (It's only my view),

I think the RCM related liabity is not Get back. Bcoz, the Tax amount is first add in Liability as Cash then Less as ITC (As per IT Depreciation and SB A/c)

So, Wait and see the returns as Reflected...