Can a single enterprise file under both Reverse & forward mechanism, client based
We are GTA (Goods Transport Agents) service providers. Based on GTA current Reverse Collection mechanism our clients are paying GST and we are not collecting the amount. We are only filing our invoice details. One of our big clients asking us to come under forward mechanism, wherein we need to collect the GST amount and deposit with the department. Major problem for us would be our existing GST unregistered customers are not prepared to pay GST amount and we are told by our auditors that we cannot have two segments for the same company. How to over come? we do not want either to loose the existing customers nor the big customer. Please advise the solution. more
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I DON'T KNOW!! SEEK PROFESSIONAL HELP BEFORE THEY SEEK U!! WELL GST IS TAX THAT OUGHT TO BE COLLECTED AND IF BY CHANCE ITS COLLECTED, NEEDS TO BE ..REMITTED TO THE GOVT. !(CUSTOMER/CLIENTS/BIG FISH/SMALL FISH ALL THIS IS ANCILLARY STORY I GUESS!!) AND THEN ONCE TAXES PAID, JUST DO THE PAPERWORK AND FILE OR REPORT THE TAXES PAID (AGAIN JUST PROCEDURAL COMPLIANCE!!) more
Jul 02
There is NO Option - If you are Registered under GST, you are required to raise GST Invoice and charge GST. If you are Registered, but are NOT required to Register (Previous year turnover more
Jul 02
Please note that Reverse Charge provision has been suspended up to 30 th September 2018. more
Jul 02
Dear Rammohan Whether you need FCM or RCM is an option to be exercised annually.You cannot have both RCM and FCM. So if majority of the customers are GST regitered,then go with FCM. If you are dealing with small time parties,who donot have GSTR,then opt for RCM My suggestion is that it is always good to opt FCM so that you get the business of Good Registered parties. more
Jul 02
