Practical Aspect of RCM in GST | RCM की Practical Working समझें ft
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- Опубликовано: 21 июл 2024
- 📍In this session we have discuss about the concept of reverse charge mechanism RCM in GST along with Practical working of RCM. Generally, the supplier of goods or services is liable to pay GST. However, in specified cases like imports and other notified supplies, the liability may be cast on the recipient under the reverse charge mechanism. Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply. There are two type of reverse charge scenarios provided in law. First is dependent on the nature of supply and/or nature of supplier. This scenario is covered by section 9 (3) of the CGST/SGST (UTGST) Act and section 5 (3) of the IGST Act. Second scenario is covered by section 9 (4) of the CGST/SGST (UTGST) Act and section 5 (4) of the IGST Act where taxable supplies by any unregistered person to a registered person is covered.
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⏰Time Stamp
0:00 Intro to Topic
1:26 Payment Voucher in RCM
4:43 Accounting Entry of RCM
7:37 ITC of RCM liability
11:00 RCM payment in Cash
17:24 RCM Outward Supply in GSTR 1
21:26 RCM Inward Supply
23:23 Claiming ITC paid on RCM
Download Section
Payment Voucher - bit.ly/3b3Lvcy
RCM Notes - bit.ly/3tGW2kx
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जिस तरह आप ने समझाया है उसके बाद जितनी तारीफ करू कम है। I would like to give five rating ❤❤❤❤❤
Itni achi explaination aj tak kisi ne nhi di RUclips pe bro ❤️❤️🙏🙏
Brilliant sir ,and we really love ur detail video, don't regret for making long video, we all enjoy ur long video as it gives us more detail and in depth information
Grand salute 👏 🙏 sir itne easy way m apne detail m RCM ko apne cover kiya. I hope ki apke subscribers 1M tak touch kr jaye. God Bless You sir ROHIT form kanpur UP.
Great Explain Sir... Thank you
Very nice and very excellent I'm impressed by what I'm looking for that is available here thank you honorable sir
❤❤❤❤❤ five heart for you sir
Excellent job sir.
Thank you sir...for deeply explained
Great explanation sirji
Hats off you sir, for this amazing and practical explanation
Very very usefull for detailed information for me
Very helpful video Sir 😊😊
Really awesome session ❤
Thanks🙏🙏 sir.. 100% clarity...
thanks so much. nice explaination
Very informative and beautiful for accounts as well as portal sir aspects very thanks for such videos sir yesa hi aap Property Rent ke liye bhi banaye usme bhut mistake ho rahi
sir bhoot sahi thrah bataya hai apne ek bar me hi case solve kar diya
Thank you for clear the concept and practical too
Glad you like it
Gstr1 mai documents summary mai hme sales invoice ke alawa ky self invoice dikhana hota hai ky?...or isme rcm invoice or payment voucher dono alag alag hai documents summary mai
bhoot accha bataya hai apne
Sir salute nice video
Nice video thanks sir
Thank you, Guruji.
What a teaching! You are really
Great.
So nice of you
Sir esee he video ka wait kr rhaa thaa
Bahut acche se samjhaya hai sir
Smjh me aagya thank you sir
बहुत बहुत धन्यवाद सर 😊
Thank you sir
Good explalation sir👏
Very useful video
YOU GAVE IT FULLY.
Nicely explained sir,,after so much struggling to understand rcm,,got clarity here,,please can u explain what was in last -how to utilise itc next month
Yes nice question
thank you so much sir 🙏🙏..ek ek topic ko aapne achchhe se samjhaaya hai
Very nice and thanks
Very good explanation with clarity 😊
Glad it was helpful!
Brilliant...❤
Nice explanation
Thank you sir. You are grate teacher.
Mithun Batabyal from Kolkata
Awesome sir
Thanks!
Welcome!
Bro you are doing very good job 😊
Sir jab hum unregistered party ke saath deal karenge and counter party se hame apne 3b mai RCM amount auto populated nhi milega tab hume manually karna hoga then eligible ITC ka column to red hoga na isse koi fark to nhi padega na?
Thanks sir ji 🙏 🙌 👍 😊
आप महान हैं सर
is reverse invoice applicable for exempted supply ?
Hi, Very very nicely explain & also showed entry in books of account without software for that Thankyou,(I am using old erp 9 which is only for goods where there is no service entry) now sir I want to know that how to pass entry unregistered GTA & self invoicing & how can show unregistered GTA entry in GSTR 1 pls . Can show by way of video.
Very easy explanation, thank you sir. Sir ek querry hai ki RCM ki ITC avail kar li maine aur credit ledger me aa gai to utilise same month me kyu nahi karte hai. Maine to file kiya tha to utilise kar liya hai. To kya ab iski notice aa sakti hai ?
Thankyou sir aap lajawab ho
Thankyou sir
thankyou sir
Thanku so much sir good
Hello sir,
if a registered gta ne apne gst portal mein rcm entry nhi ki hai. Aur registered buyer ko gst 3b mein rcm show karna hai to kya woh manual entry kar sakta hai kya 3.1 and 4.3 gstr 3b mein. please reply very important. Baki sab transporter ka show ho raha hai 3b and inward entry mein bas ek transporter ka rehta hai. Toh jiska bacha hai entry usse manual entry kar sakte hai kya.
THANK YOU
Next month me RCM ka ITC utilize karne ke liye figures manual fill karna hai ya auto populated aayega....agar manual fill karna hai to kaha pe fill karna hai
I understood everything, just unable to understand why we can't utilize rcm itc like any other itc to pay output tax.
Sir rent ke gst me r1 recipients ko daalni padegi owners unregistered person hai
Building material unregistred se purchase hai to kaya RCM pay kar product ko tax invoice par sell kar sakte hai aur itc next month utilize bhi kar sakte hai
🙏 Sir kindly complete the Journal Entry of "CGST and SGST Input RCM" after payment made through Electronic Cash Ledger, from which ledger we have to adjust, because you already reversed "CGST and SGST Outward RCM" by due and payment entry.
what is the need of RCM concept ,when ITC is available on RCM paid later on...making the effective payment of GST as nil..??? pl clarify...
Sir, Mene akto products non Gst me purchase Kiya....ohi product GST me salles karna he....RCM dekha ke input lesakta hu??
CGST AND SGST (INOUT ANS OUTPUT KA EK HI COLLUM HAI).....AND GST PAYABLE KA LEDGER SIRF JUNE MO
NTH KE LIA CREATE KRNA PDEGA?
GST return any purchase can we add in 3b
Sir jese frieght ki bilty pe to paid ya to pay likha hota h usme rcm kese book kre
Where we will show it in case provider of service bis unregistere
Where we will show it on GSTR1
👍
Kya journal voucher bhi kar sakte hain? Ya payment voucher hi karna jaruri hai
Nice sr
Sir ji bank payment date month ke last ki 31st ki kaise hogi jabki chalan hum gstr-3B file karte hai us din banate hai
Sir if challan ke through payment kr de RCM liability ka then kya same month mai RCM wala input claim kr sakte hai
Sir advocate apni books mai entry kaise karega .. cgst output rcm aur sgst output rcm Jo uska payable niklega.. sir please btao
Hi sir ...
Transport se bill h vo bhi unregistered. To sir ye situation me gstr 3 me kaise fill hoga ..aur ye to cash me paid krne ke bad utilities kaise kare pls sir tell me ya make a video
Sir, what will do, ITC of RCM claimed and utilise wrongly but no taxable value and RCM liabilty is shown in GSTR 3B
Happy Holy Sir
Sir GSTR 3B me Input Galat Claim kiya hai means Jyada Claim kar liya hai jitna Books me available tha ya GSTR 2A/2B me show ho rha tha...
to Books me Adjustment Entry jo pass karenge Month end me wo jo hona chahiye tha wo ya jitna claim kr lia hai 3B me wo??
Sir Ji Please tell me - as a service recipient how can we calculate RCM on Transport Charges & pay AND make entries in Tally & GST Portal.
Sir,Please show the entry of RCM IN TALLY PRIME
Sir, annual return के समय RCM Liability का पेमेंट किया है तो उसकी ITC ले सकते हैं क्या?
Sir when we purchase old goods from customer what will be the procedure
What is the accounting entry in the books of Anand advisory LLP
sir kuch consultant kehe te hai ki jis month me pay kar rahe ho usi month me claim kar lo aur gstr1 me rcm me jab entry karte hai to total sale me tax ko add karke nahi likh te kya ye sahi hai sir
❤
Sir agar rcm out of state ka ho that means igst to in form 6 of payment of tax jaha hum calculation krte hai gstr3b ki waha pr as per rule igst set off hota hai against cgst aur agr waha se amt nikal de to return aage process hi nhi hota hai aur agar rcm igst waha utilise ho jata hai to wo return galat ho jata hai na kyuki in same month me hum rcm ka credit nhi le sakte plz explain 🤞🙏
Sir suppose I buy a item from an unregistered person goods worth 1lakh which has gst 18000 @ 18%, now I have to reverse 18000. Now suppose I wish to sell the item at 10% profit ie 10000, what should be my value of my sell invoice 129800 ie 18% on 11000 or 151040 ie 18%on 128000
sir, jab koi outside India ki company se software subscriptions ki services Indian registered company leti hai to RCM applicable hot hai ha nahi
Aur agar last month ke GSTR 3b ke table 3.1 (c) me RCM GST pay kiya hai lekin table 4(A)3 me RCM GST claim nahi kiya hai to ?
Sir 3B me Bill value 10000 mention karni hai ya Taxeble Value 9000 mention karna hai
Nice sir.
Sir tax advocate bhe rcm laga sakte h apne client's pe?
No
kya sir reta gitty ke urd purchase par rcm hai
Teach margin scheme filling practically pls
How utilise RCM ? Please guide sir
Good
B2c taxable invoice add to b2b how to amend sir
Dear sir,
supply karte waqt total
Amount galat he na 10,000/- hi dalna tha total utna hi payment ane wala he n party se. Your student waiting for reply
Sir, shall we Adjust RCM Liability agst.Electonic cash balance?
No, cash balance se adjust nahi kar sakte hai, cash mai payment karna padega
Same month mai other liability se rcm credit ko utilize nhi kr skte ky sir?...sir payment/ challan create krne ke baad hi utilise krte hai portal pr
Kar sakte ho, but i don't recommend.
gstr1 wrongly filed without rcm how to resolve
Tell me one video on govt civil contractor which received payment from govt
Sgst,cgst input rcm group kisma ayega
Koi agar hame cheque se payment kare aur us cheque par hamare naam ke sath City name bhi add karde to kya vo cheque clear hoga?