https://www.taxtmi.com/forum/issue?id=117029 Payment under the reverse charge mechanism made in a subsequent financial year should be disclosed in the annual reconciliation: disclose the RCM liability as a liability line, show the difference between tax payable and tax paid as the RCM paid in the later year, add a note in unreconciled tax payments and attach the challan. Alternatively, if the expense is booked in the later year, disclose the RCM in the current year's GSTR-9 to align books with annual-return reporting. Separate rules require affidavits and on-pack disclaimers where brand rights are foregone. en-us Tue, 23 Feb 2021 16:00:30 +0530 Thu, 23 Jan 2025 15:54:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117029 Payment under the reverse charge mechanism made in a subsequent financial year should be disclosed in the annual reconciliation: disclose the RCM liability as a liability line, show the difference between tax payable and tax paid as the RCM paid in the later year, add a note in unreconciled tax payments and attach the challan. Alternatively, if the expense is booked in the later year, disclose the RCM in the current year's GSTR-9 to align books with annual-return reporting. Separate rules require affidavits and on-pack disclaimers where brand rights are foregone. Discussion-Forum GST Tue, 23 Feb 2021 16:00:30 +0530 https://www.taxtmi.com/forum/issue?id=117029