Goods and Services Tax – Started By: – pawan singhal – Dated:- 16-8-2017 Last Replied Date:- 18-8-2017 – if Registered person made Self invoice for Rcm expenses. is it shown in debtor side in balance sheet. if no then how to do entry in books of account. if rp paid gst 18000 as reverse charge on pur of 100000. then he issued self invoice of rs.100000+gst 18000. Then how to show in books of account. sales+self invoice. then how to show in balance sheet… – Reply By THYAGARAJAN KALYANASUNDARAM – The Reply = Dear sir, This is not sales this is nothing but purchase of goods or services or both. First make the due entry and then make the payment entry in the books of accounts. – Reply By pawan singhal – The Reply = But sir as per rule in Rever
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Vamsi Krishna – The Reply = No need of posting sale invoice.While booking the unregistered/RCM entries you can debit the RCM Receivable-CGST/SGST/IGST ( Current Asset) and credit respective RCM Payable- CGST/SGST/IGST Payable ( Current Liabilities).The movement you discharge the liability your GST payable account will get nullified & then adjust your RCM Receivable GL against any GST liability.No need to book debtor in this case. This is sale only with respect to GST but not actual. – Reply By VIJAYANT DUBEY – The Reply = SIR, IN CASE OF RCM WHAT IS THE RESPONSBILITY OF SERVICE PROVIDER IN RELATION OF RETURNS AND INNVOICE – Reply By Kishan Barai – The Reply = Self invoice is not required, you can show RCM on GST 3B form – Reply By VIJAY
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