Rcm entry Tds and tcs rates Difference between gstr 1 and gstr 3 b

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RCM entry refers to reverse charge mechanism in GST where the recipient pays the tax instead of the supplier. TDS and TCS rates are tax deduction rates. GSTR 1 is for outward supplies while GSTR 3B is a summary return.

RCM entry is a mechanism in GST where the recipient of goods or services is liable to pay the tax instead of the supplier.
TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) are rates at which tax is deducted or collected on certain transactions.
GSTR 1 is a monthly or quarterly return for outward supplies of goods or services, while GSTR 3B is a summary return to report the summary of outward and inward supplies.
Example: If a business purchases services from an unregistered supplier, the recipient is required to pay tax under RCM.
Example: TDS rates vary depending on the nature of payment, such as salary, rent, or professional fees.

Rcm entry Tds and tcs rates Difference between gstr 1 and gstr 3 b

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