How to differentiate Final return with Reverse Charge?
What is Final return? How does Reverse Charge work under GST regime? What are the difference between Final return and Reverse Charge?
Under GST system, the following information explains about Final return and Reverse Charge.
As per GST terms, Filing of final return under current tax regime is one of the condition for carrying the input tax credit under current tax regime to GST regime. Reverse charge” means the liability to pay tax by the recipient of supply of goods or services or both instead of the supplier of such goods or services or both under sub- section (3) or sub-section (4) of section 9, or under sub-section (3) or sub-section (4) of section 5 of the Integrated Goods and Services Tax Act.
The details about Final return and Reverse Charge with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Final return and Reverse Charge, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Final return and Reverse Charge separately below. You may kindly read the below links to know more about Reverse Charge and Final return.
Meaning of term final return under GST
Meaning of Reverse Charge under GST
The above information easily explains about Reverse Charge and Final return.
I hope, you have satisfied with the difference between Final return and Reverse Charge explained above. Do you have different thought on difference between Reverse Charge and Final return?
Share below your thoughts about Final return and Reverse Charge
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