TaxTMI 
TaxTMI 
REVERSE CHARGE REGARDING 3B GSTR RETURN
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....EVERSE CHARGE REGARDING 3B GSTR RETURN<br> Query (Issue) Started By: - nandankumar roy Dated:- 17-8-2017 Last Reply Date:- 17-8-2017 Goods and Services Tax - GST<br>Got 1 Reply<br>GST<br>PL CLARIFY IN SHORT REGARDING 3B GSTR RETURN EARLIER SHOWN AT POINT 3 (D) FIGURE REVERSE CHARGE OF GTA AND URD PUR GST AMT CAN BE TAKEN AS ELIGIBLE ITC AT POINT 4(3) IN CASE OF MFG UNIT AND GST WHETHER IT WILL BE ....
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....ONLY ON CGST AND SGST OR CAN BE BE SHOWN IN IGST. REGARDS, N K ROY Reply By Vamsi Krishna: The Reply: RCM can be availed for both Intra & Inter state supplies. Liability of GST payable under reverse charge must be calculated as under: Identify the purchases made from unregistered persons to determine the reverse charge liability a) Segregating the above purchases into inter-state and intra st....
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....ate supplies; b) Remove the intra-state purchases of a state where there is no registration obtained; c) Remove the intra-state or inter-state purchases which are not exempted or are nil rated for ex: Purchase of milk, books etc.; d) Remove the intra-state or inter-state purchases which are not leviable to GST For ex: Petrol, diesel, electricity etc.; e) Remove the intra-state or inter-state....
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.... purchases which are purchased from a person who is not in any business i.e. not being a supplier. f) Segregate the intra state purchases portion on day wise; g) Remove the ones below ₹ 5,000/- per day; h) Identifying Place of supply in case of inter-state purchases from unregistered persons; i) Identifying the classification code for such supplies j) Apply the appropriate rate of tax ....
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....and compute GST payable on purchases from unregistered persons; k) Identify supplies notified to be taxable under reverse charge. For ex: advocates, GTA, sponsorships; l) Identifying the classification code for such supplies; m) Apply the appropriate rate of tax and compute GST payable on notified supplies under reverse charge; n) In case of e-commerce operator the above calculation needs t....
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....o be done for shifting of charge also. o) Raise a consolidated monthly invoice mentioning all the taxable supplies subject to reverse charge as per the mandatory requirement of a tax invoice. Once the above calculation is performed, total taxable value and tax on inward supplies liable under reverse charge must be disclosed in Form GSTR 3B.<br> Discussion Forum - Knowledge Sharing ....