RCM payment from UR and Registered suppliers 2B Vs books

[Govinda Raju]

HI,

Further to Notification number 40/2021, RCM reflecting in GSTR-2B only to be considered for books and liability to be discharged.

clarification is being sought as URD transporter value will not be reflected in GSTR-2B but we will be accounting an creating liability in books.

which value to be shown in our GSTR-3B as per 2B or as per books i.e. 2B values + URD transporter or URD suppliers values which is liable to RCM

AI Summary

Clarifying GST Reverse Charge Mechanism: Aligning GSTR-3B with Accounting Books, Addressing GSTR-2B Discrepancies, and Self-Invoice Reporting. A discussion on the Goods and Services Tax (GST) focuses on how to account for Reverse Charge Mechanism (RCM) payments in GSTR-3B when values differ between GSTR-2B and accounting books. Participants clarify that RCM liabilities should be accounted for based on actual transactions and reflected in GSTR-3B, regardless of their appearance in GSTR-2B. They emphasize that self-invoices for services from unregistered suppliers need not be reported in GSTR-1 but should be considered in GSTR-3B. The consensus is that RCM liabilities must be paid according to books, with potential discrepancies documented for future reference.