self invoice for rcm
Query (Issue) Started By: – pawan singhal Dated:- 16-8-2017 Last Reply Date:- 18-8-2017 Goods and Services Tax – GST
Got 9 Replies
GST
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…
\nReply By THYAGARAJAN KALYANASUNDARAM:
\nThe Reply:
\nDear sir,
\nThis is not sales this is nothing but purchase of goods or services or both.
\nFirst make the due entry and then make the payment entry in the books of accounts.\n<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n o accounted for self invoice in books of accounts.. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" self invoice for rcm Query (Issue) Started By: – pawan singhal Dated:- 16-8-2017 Last Reply Date:- 18-8-2017 Goods and Services Tax – GSTGot 9 RepliesGSTif 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 … Continue reading “self invoice for rcm”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7171","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7171"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7171\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nReply By Vamsi Krishna:
\nThe Reply:
\nNo need of posting sale invoice.
\nWhile 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).
\nThe movement you discharge the liability your GST payable account will get nullified & then adjust your RCM Receivable GL against any GST liability.
\nNo need to book debtor in this case. This is sale only with respect to GST but not actual.
\nReply By VIJAYANT DUBEY:
\nThe Reply:
\nSIR, IN CASE OF RCM WHAT IS THE RESPONSBILITY OF SERVICE PROVIDER IN RELATION OF RETURNS AND INNVOICE
\nReply By Kishan Barai:
\nThe Reply:
\nSelf invoice is not<\/p>\n
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