Category: gst accounting entry for reverse charge mechanism


GST Relief for Taxpayers from High Court

Coming down hard on the indirect tax department the Allahabad High Court said the tax department harassed a taxpayer by cancelling his registration and slapped a fine of Rs 10,000. The high court also revoked the cancellation of registration of the taxpayer on account of “non filing of Goods and Services Tax (GST) returns for […]

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Reverse Charge Mechanism and Its Accounting Treatment In GST…

RCM ADJUSTMENT ENTRIES IN GST  Reverse charging mechanism is a procedural way of discharging tax liabilities and formalities by buyer of services or goods or both instead of seller.The RCM adjustment entries are discussed below. For example, a transaction will be considered as reverse charge if tax is payable by buyer instead of seller. GST reverse charging […]

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