https://www.taxtmi.com/manuals?id=2015 Recipients liable under the Reverse Charge Mechanism must self invoice within thirty days and maintain records; invoice level details are to be reported in Table 4B of GSTR 1 and advance payments are taxable on reverse charge basis. ECOs and suppliers using ECOs follow transitional GSTR 1/GSTR 3B reporting for specified services. Circular clarification confirms the financial year for availment of input tax credit is the year in which the recipient issues the invoice under section 31(3)(f), subject to tax payment and conditions; delayed issuance attracts interest and possible penalty. en-us Fri, 03 Mar 2023 12:22:00 +0530 Tue, 26 Nov 2024 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=2015 Recipients liable under the Reverse Charge Mechanism must self invoice within thirty days and maintain records; invoice level details are to be reported in Table 4B of GSTR 1 and advance payments are taxable on reverse charge basis. ECOs and suppliers using ECOs follow transitional GSTR 1/GSTR 3B reporting for specified services. Circular clarification confirms the financial year for availment of input tax credit is the year in which the recipient issues the invoice under section 31(3)(f), subject to tax payment and conditions; delayed issuance attracts interest and possible penalty. Manuals GST Fri, 03 Mar 2023 12:22:00 +0530 https://www.taxtmi.com/manuals?id=2015