How to differentiate Accumulated credit with Reverse Charge?
What is Accumulated credit? How does Reverse Charge work under GST regime? What are the difference between Accumulated credit and Reverse Charge?
Under GST system, the following information explains about Accumulated credit and Reverse Charge.
As per GST terms, Accumulated credit means credit availed on inputs, input services and capital goods to extent attributed to dutiable goods or taxable services/exported goods+ exported services, availed in excise/service tax returns and not utilized but C/F as closing balance in return filed in pre-GST. 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 Accumulated credit and Reverse Charge with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on Accumulated credit 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 Accumulated credit and Reverse Charge separately below. You may kindly read the below links to know more about Reverse Charge and Accumulated credit.
Accumulated credit to GST means
What is Reverse Charge under GST
The above information easily explains about Reverse Charge and Accumulated credit.
We hope, you have satisfied with the difference between Accumulated credit and Reverse Charge explained above. Do you have different thought on difference between Reverse Charge and Accumulated credit?
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