Invoices (service/goods/GTA) from un-registered person to registered person –
1. We have to create liability under RCM and discharge our liability or pay just as per GSTR-2B.
2. RCM Invoices will be declared in GSTR-2B under RCM but not accounted by us in same month due to transit or delayed receipt of invoices from GTA provider/goods. –
Still we have to discharge liability as per GSTR-2B or as per books or
keep reco in our books and discharge liability as per GSTR-2B.
3. what about unregistered supplier/GTA invoices where it will not appear in GSTR-2B but will be accounted in books – we need discharge liability by adding value/tax in GSTR-2B – or pay just as per GSTR-2B.
Debate on GST liability discharge under RCM: GSTR-2B vs. accounting books; clarify using CGST Act time of supply provisions. A discussion on the Goods and Services Tax (GST) forum addresses the issue of discharging liability under the Reverse Charge Mechanism (RCM) based on GSTR-2B or accounting books. Participants debate whether liabilities should be discharged according to GSTR-2B entries or as per the books, especially when invoices from unregistered suppliers or delayed invoices are involved. It is clarified that liability under RCM should be discharged based on the time of supply provisions in the CGST Act, not solely on GSTR-2B entries. Participants also discuss reconciling discrepancies between GSTR-3B and system-generated data to address potential departmental queries. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
