How to differentiate GST Returns with Reverse Charge Mechanism?
What is GST Returns? How does Reverse Charge Mechanism work under GST regime? What are the difference between GST Returns and Reverse Charge Mechanism?
Under GST system, the following information explains about GST Returns and Reverse Charge Mechanism.
The basic features of the returns mechanism in GST include electronic filing of returns, uploading of invoice level information and auto-population of information relating to Input Tax Credit (ITC) from returns of supplier to that of recipient, invoice-level information matching and auto-reversal of Input Tax Credit in case of mismatch. The returns mechanism is designed to assist the taxpayer to file returns and avail ITC. Section 9(4) of the CGST Act, 2017 mandates that tax on supply of taxable goods by an unregistered supplier to a registered person will be paid by the registered person under reverse charge mechanism.
The details about GST Returns and Reverse Charge Mechanism with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on GST Returns and Reverse Charge Mechanism, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on GST Returns and Reverse Charge Mechanism separately below. You may kindly read the below links to know more about Reverse Charge Mechanism and GST Returns.
Meaning of term GST Returns under GST
Reverse Charge Mechanism Unregistered recipients under GST
The above information easily explains about Reverse Charge Mechanism and GST Returns.
We hope, you have satisfied with the difference between GST Returns and Reverse Charge Mechanism explained above. Do you have different thought on difference between Reverse Charge Mechanism and GST Returns?
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