Self Invoice under RCM

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accountant
461 Points Joined July 2013
we have taken transport service from register GTA every month and pay GST under rcm to govt.

in that case can we make self invoice.
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On 06 July 2024 at 08:07 Report
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Master in Accounts & high court Advocate
9596 Points Joined December 2011

Yes, you can generate a self-invoice for transportation services availed from a registered Goods Transport Agency (GTA) and pay GST under the Reverse Charge Mechanism (RCM). As per GST regulations, the recipient of GTA services (you) is required to pay tax under RCM. To comply with this, you can generate a self-invoice, also known as a "tax invoice" or "bill of supply", containing the following details: - Your GSTIN - Supplier's GSTIN (GTA's GSTIN) - Descripttion of services (transportation services) - Value of services - GST rate and amount - Date of invoice By generating a self-invoice, you can account for the GST liability under RCM and claim input tax credit (ITC)

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On 08 October 2024 at 12:29


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