Practical Aspect of RCM in GST | RCM की Practical Working समझें ft

📍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
This video will guide you on below topics
rcm in gst,
rcm in gstr 3b return,
rcm in gst hindi,
rcm in gstr 1 return,
rcm in gst portal,
rcm in gst return,
rcm in gstr 1,
rcm in gst latest updates,
rcm in gst tally entry,
rcm in gst r1,
about rcm in gst,
rcm and fcm in gst,
rcm accounting entries in gst,
all about rcm in gst,
all about rcm under gst in hindi,
freight charges rcm in gst,
how to check rcm in gst portal,
concept of rcm in gst,
how to calculate rcm in gst with example,
rcm entry in gst portal,
rcm entry in gst,
rcm journal entry in gst,
rcm gst entry in tally,
gst rcm entry in tally prime,
how to file rcm in gst return,
reverse charge mechanism in gst meaning,
rcm mechanism in gst

[@ABHISHEKYADAV-ry8gc]

जिस तरह आप ने समझाया है उसके बाद जितनी तारीफ करू कम है। I would like to give five rating ❤❤❤❤❤

[@jassukd273]

Itni achi explaination aj tak kisi ne nhi di KZbin pe bro ❤️❤️🙏🙏

[@yashsinghi4201]

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

[@bestiiink.k7057]

Very nice and very excellent I'm impressed by what I'm looking for that is available here thank you honorable sir

[@bestiiink.k7057]

❤❤❤❤❤ five heart for you sir

[@madhuagarwal901]

nicely explained

[@poulamighosh6314]

Thank you sir

[@rechpe-app]

Thanks!

[@FinTaxPro]

Welcome!

[@Traveleo28]

Thank You Sir 🙏✨

[@rampathak6579]

Very helpful video Sir 😊😊

[@harshbhulla56]

sir bhoot sahi thrah bataya hai apne ek bar me hi case solve kar diya

[@harshbhulla56]

bhoot accha bataya hai apne

[@debasishmishra1814]

Excellent job sir.

[@unstoppablesuper1009]

Hats off you sir, for this amazing and practical explanation

[@venkatmouli3150]

Good explalation sir👏

[@shubhammaurya8]

Very very usefull for detailed information for me

[@harshbhulla56]

thankyou sir

[@caakshay72]

Very useful video

[@anupmishra5797]

Very good explanation with clarity 😊

[@FinTaxPro]

Glad it was helpful!

[@nileshgujar07]

Great explanation sirji

[@MANISHKUMAR-cy8vt]

Bahut acche se samjhaya hai sir

[@user-ur6gh6oh1l]

Very nice and thanks

[@vishalrai85478]

Smjh me aagya thank you sir

[@nikhilchowhan5297]

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

[@ABHISHEKYADAV-ry8gc]

Yes nice question

[@AmitKumar-mg9zj]

thank you so much sir 🙏🙏..ek ek topic ko aapne achchhe se samjhaaya hai

[@ROHITKUMAR-xj4wz]

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.

[@kdwivedi1686]

Sir salute nice video

[@priyankavast2052]

Thank you for clear the concept and practical too

[@FinTaxPro]

Glad you like it

[@sachinbiradar9086]

Thank you sir...for deeply explained

[@dragonballz3040]

Sir esee he video ka wait kr rhaa thaa

[@sachinGiri-np8yb]

thanks so much. nice explaination

[@bhavikshah7565]

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.

[@kansingh5968]

Nice video thanks sir

[@alokdixit4986]

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

[@swaraproperty]

THANK YOU

[@umashankar400]

Thank you, Guruji.

[@KaranSharma-ec5sz]

Thankyou sir aap lajawab ho

[@kartikrawat9707]

Awesome sir

[@k.subramanian9788]

What a teaching! You are really Great.

[@FinTaxPro]

So nice of you

[@SumitKumar-he6wl]

बहुत बहुत धन्यवाद सर 😊

[@aryanchaurasiya6506]

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 ?

[@googleofstudyandmasti2901]

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?

[@ajeetmanjhi4697]

Great Explain Sir... Thank you

[@rahuljain4373]

YOU GAVE IT FULLY.

[@taxinindia1892]

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

[@CutebabyPritRathour]

Thanku so much sir good

[@amitsinghaniya5020]

Thankyou sir

[@gauravagarwal3352]

Thanks🙏🙏 sir.. 100% clarity...

[@shrikantpise8436]

Thanks sir ji 🙏 🙌 👍 😊

[@sparkash9085]

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.

[@prembagul9905]

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

[@avishekjaiswal015]

Nice explanation

[@mithunbatabyal2183]

Thank you sir. You are grate teacher. Mithun Batabyal from Kolkata

[@ramsagarprajapati111]

आप महान हैं सर

[@avinashshiyal2771]

Nice sr

[@rahuldas5969]

Brilliant...❤

[@nareshkarnani1223]

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

[@kaushalprasad7324]

🙏 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.

[@onlyentertainment3107]

Bro you are doing very good job 😊

[@jayprakashparmar7972]

Happy Holy Sir

[@Wisdom4Ever]

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.

[@FunDongal]

Ha bhai In case of registered person wo apni R1 file krdega to aapke gstr2b me reflect hojayega But agr show nhi ho rha To Manually details fill krlo ,,,

[@nehagaikwad4091]

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 🤞🙏

[@aitva007]

Good

[@nileshgawade3596]

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

[@Geetaupnisad]

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

[@vidhitachhablani8699]

Really awesome session ❤

[@rohitsomalla6752]

I understood everything, just unable to understand why we can't utilize rcm itc like any other itc to pay output tax.

[@user-gd7xb5zf6b]

sir, jab koi outside India ki company se software subscriptions ki services Indian registered company leti hai to RCM applicable hot hai ha nahi

[@Creative_Shaurya]

Where we will show it in case provider of service bis unregistere Where we will show it on GSTR1

[@ranashreyasd1122]

gstr1 wrongly filed without rcm how to resolve

[@heerapandey5038]

Sir, what will do, ITC of RCM claimed and utilise wrongly but no taxable value and RCM liabilty is shown in GSTR 3B

[@pateljignesh605]

👍

[@ADITYAKUMARJ00]

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??

[@vv9730]

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...

[@gauravmagre9959]

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

[@Aryan21able]

Kya journal voucher bhi kar sakte hain? Ya payment voucher hi karna jaruri hai

[@AnkitKumar-ip1jd]

Sir if challan ke through payment kr de RCM liability ka then kya same month mai RCM wala input claim kr sakte hai

[@anilghulanawar1239]

❤

[@rahulsharma4739]

Nice sir. Sir tax advocate bhe rcm laga sakte h apne client's pe?

[@FinTaxPro]

No

[@gopeshdadhich2697]

Sir, annual return के समय RCM Liability का पेमेंट किया है तो उसकी ITC ले सकते हैं क्या?

[@satinderpalsingh7240]

Sir advocate apni books mai entry kaise karega .. cgst output rcm aur sgst output rcm Jo uska payable niklega.. sir please btao

[@ranjeevsingh241]

Tell me one video on govt civil contractor which received payment from govt

[@nileshgawade3596]

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 ?

[@debabratanaskar2034]

Sir, Mene akto products non Gst me purchase Kiya....ohi product GST me salles karna he....RCM dekha ke input lesakta hu??

[@gsharma]

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

[@hiraldp]

RCM PAID FOR NOVEMBWE 2023 CAN I CLAIMED IN DECEMBER 2023 MANUALY IN RCM ITC

[@hirakjyoti2099]

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

[@SanjeevKumar-bq4cw]

Sir rent ke gst me r1 recipients ko daalni padegi owners unregistered person hai

[@vipulagrawal8036]

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?

[@adityadubey623]

Sir Please Humble Request For You. Meri April Aur May Ki 3b Return filed hai But April aur May Ka rcm Entry Maine post ni kiya Ab June Ending Mein Mai Itc kaise lu rcm Ka Jabki Journal Voucher Freight entry April aur May Ki aur Jab Busy mein post krta hu toh wahan monthly basis Month choose aata hai.. Mai isko Kaise kru please

[@rupalpandya5594]

What is the accounting entry in the books of Anand advisory LLP

[@shaileshpatil1391]

Sir 3B me Bill value 10000 mention karni hai ya Taxeble Value 9000 mention karna hai

[@shubhamkatiyar5009]

Sir mere ko builder ne 52,00,000 ka Flat becha aur uspe kaha 10,00,000 ka 30% capital usko bherna hai kyunki value uske according 42,00,000 hi thi. Ab mere se wo 3,00,000 ki demand kar raha hai. Main isko kaise verify karu ki ye builder IT ko bharega aur kya main usko ye du?

[@rajeevgadgi606]

Sir,Please show the entry of RCM IN TALLY PRIME

[@Door.2success]

Sir jese abhi petrol pe gst nhi h toh woh hme costly pdta h per agar uspe gst lg jaye toh hme thoda sasta pdega .... Par jese ki abhi food items pe gst lg gya h toh food items or mehnge ho gye h ... Toh Sir esa q kuch chizo pe gst lge toh woh sasta ho rha h or kuch pe mehnga q ?

[@DeepakYadav-qj8zo]

Sgst,cgst input rcm group kisma ayega

[@suryanarayanpanda708]

Sir, please clear my doubt. very important. In RCM, whether Invoice value is 11800 or 10000. In most of the videos, it shows as 10000, as the supplier is not responsible for payment of tax. Sir, pls solve my doubt.

[@FinTaxPro]

See in RCM invoice is to be made by receipent which i have shown as payment voucher cum invoice. Invoice value would be Taxable value +GST, the only difference is GST is payable by recipient instead of supplier. From my point of view we should put value including GST in Invoice value

[@suryanarayanpanda708]

@@FinTaxPro Thank you for your valuable information

[@umangsingh5586]

Sir when we purchase old goods from customer what will be the procedure

[@stc2117]

GST return any purchase can we add in 3b

[@ankityogi8027]

Sir jese frieght ki bilty pe to paid ya to pay likha hota h usme rcm kese book kre

[@amitsinghaniya5020]

B2c taxable invoice add to b2b how to amend sir