This report displays vouchers recorded for purchase from unregistered dealers. It displays the taxable amount and tax value for URD purchases only for the days on which the set threshold limit is exceeded. (default value of Rs. 5000). This threshold limit can be changed using the F12 configuration option in the report. The threshold limit set is displayed in the report header section.
At the bottom of the report, the tax liability for the URD purchases is displayed, along with the amount of liability already recorded in the books through journal adjustments and the pending liability that has to be booked.
This report gives you a quick reminder of the tax liability created due to URD purchases and enables you to record the required adjustment transaction to bring liability into your books of accounts.
To view the Purchase from URD – Reverse Charge Liability report
1. Go to Gateway of Tally > Display > Statutory Reports > GST > GSTR-3B.
2. Click R: Show URD Purc. The report appears as shown below:
F1: Detailed - Click this button to view the number of transactions for each day. The detailed report appears as shown:
F4: Party - Click this button to view the vouchers only for a particular supplier.
F5: Show All - Click this button to view URD purchase vouchers for all days without filtering based on the threshold limit. In this view, the Total, Liability booked, and Liability to be booked information is not displayed.
J: Stat Adjustment - Click this button to record journal transactions for booking the pending liability and for updating the liability in books of accounts. Click here for detailed information on recording a journal transaction for creating tax liability for URD purchases.
F12: Configure - Click this button to configure the options for the report.
● Set per day threshold limit to charge tax on URD purchases: Allows you to change the default threshold limit for charging tax on URD purchases for a particular day.
● Show eligible ITC details? Enable this option to view additional columns with details of tax value eligible for input tax credit out of the liability booked for URD purchases.
● Show tax types in separate columns? Enable this column to view Integrated Tax, Central Tax, State Tax, and Cess in separate columns. When this option is set to No, a single column is displayed with total Tax Amount.