You can account for import of services, raise liability on the tax payable (reverse charge), and claim tax credit.
You can record an inward supply of services that are imported, in a purchase invoice.
To record a purchase invoice
1. Go to Gateway of Tally > Accounting Vouchers > F9: Purchase .
2. Click I : Accounting Invoice .
3. In the field Party's A/c Name , select the supplier ledger predefined with Country other than India .
4. Select the service ledger grouped under Purchase Accounts , and enter the amount.
5. Press Ctrl+A to accept.
When you import services, you have to raise the tax liability in your books and then pay it to the department. You can record a journal voucher to raise this liability under reverse charge.
You can claim the tax liability paid on imports as tax credit by recording a journal voucher. The purchase invoice details with the tax credit claimed on the purchase is shown in GSTR-3B .
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .
2. Click J : Stat Adjustment .
3. Select the options as shown below.
4. Debit the ledger grouped under Current Assets and c redit the integrated tax ledger.
5. Press Enter to save.
1. In the journal voucher, click J : Stat Adjustment and set the options as shown below:
2. Debit the integrated tax ledger and credit the ledger grouped under Current Assets .
3. Enable the option Provide GST Details and enter the period for which the tax credit is availed.
4. Press Enter to save.
● Go to Gateway of Tally > Display > Statutory Reports > GST > GSTR-3B .
For purchases recorded with the nature of transactions - Imports Exempt and Imports Nil Rated , you do not have to account for integrated tax liability.
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