Smriti Anurag (36 Points)
09 February 2023Dear All,
I have received few invoices for the year FY 18-19,19-20 and 20-21.These invoices are current dated invoices.
RCM and TDS under commission is applicable on these invoices. Just need the clarification that should we deduct What should be the treatment of TDS and GST on these invoices. Should we charge GSt and deduct TDS on them or not.
CA Vidyasagar B
(Assistant Manager )
(176 Points)
Replied 09 February 2023
Dear Ma'am
Is TDS are you referring to in the question is TDS under Income Tax Act, 1961?
CA Vidyasagar B
(Assistant Manager )
(176 Points)
Replied 09 February 2023
Assuming whatever services you have received are liable under RCM
If the service is received from registered supplier - Tax has to be paid along with interest and no ITC can be availed
If the service is received from unregistered supplier - Self invoice to be issued in this case and Tax has to be paid along with interest but ITC can be availed
These are ex facie views of mine and the same should not be construed as professional advice / suggestion.
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 10 February 2023
If the date of invoice is of this FY then pay RCM and take ITC provided you didn't record such transaction in the respective FYs to which they pertain to.
If the dates of invoices are of previous FY then you will have to pay RCM but ITC cannot be claimed.
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 10 February 2023
If you haven't deducted earlier then yes you will have to
CAclubindia
