Financials for India - EBS (MOSC)

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GST - Reverse Charge on Receivables Side

edited Jul 4, 2017 5:04AM in Financials for India - EBS (MOSC) 5 commentsAnswered

Hi,

We have a business requirement that we need to implement reverse charge on the receivables side. Sometimes the business provides compensation to the customers, because business is unable to deliver or achieve certain milestone promised to the customer. For example, there is a compensation of 1000 provided to the customer. The customer is a unregistered customer. Hence the business has to apply the reverse charge on this payment. So there needs to be a payables invoice of 120 (considering a RCM rate of 12%) against the tax authority. How to achieve this in the post-GST regime.

Regards,

Vishwesh

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