https://help.tallysolutions.com/docs/te9rel64/Tax_India/gst/import_service_gst_6_0_3.htm

Record Import of Services | GST Reverse Charge

Related Topics

Inward Supplies

Outward Supplies

Deemed Exports

Advance Payments

Inward Supply from Unregistered Dealers

Related Reports

GSTR-3B

Importer of taxable services is liable to pay reverse charge under GST, and can claim input credit. In Tally.ERP 9 you can record import of services, raise liability of the tax payable in your books, and claim tax credit. The purchase details with the tax credit claimed on the purchase is shown in GSTR-3B .

On this page

Record imports

Raise tax liability

Claim tax credit

View tax credit claim

Record Imports

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 a Country other than India .

4. Select the service ledger grouped under Purchase Accounts , and enter the amount.

5. Accept the invoice to save.

Raise Tax Liability

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.

You do not have to account for integrated tax liability for the purchases recorded with the nature of transactions Imports Exempt and Imports Nil Rated .

Claim Tax Credit

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment .

3. Set details of adjustment as shown below.

4. Debit the integrated tax ledger and credit the ledger grouped under Current Assets .

5. Enter the period for availing tax credit on reverse charge.

o Enable the option Provide GST Details .

o Enter the period for which the tax credit is availed.

6. Press Enter to save.

View Tax Credit Claim

Go to Gateway of Tally > Display > Statutory Reports > GST > GSTR-3B .

You do not have to account for integrated tax liability for the purchases recorded with the nature of transactions Imports Exempt and Imports Nil Rated .