How to Handle RCM (Reverse Charge) under GST as Recipient inTallyPrime Rel 3.0
In this video we shall learn to handle accounting of inward supply of goods or services under Reverse Charge(RCM) as recipient.
We will also understand the requirements as per GST law for reporting of RCM liability and claim of RCM ITC.
We will walk through 2 scenarios of RCM ITC claim:
1. Where the dealer can account for RCM liability and report in GST return and also claim ITC on RCM in the same month.
2. Where the dealer will account for RCM liability and report in GST return but claim ITC on RCM in subsequent month or when it becomes eligible for claim.
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