1) what is RCM in gst? 2) tds on commission section 3) what is credit & debit note? 4) debit note & credit note section under gst 5) export invoice table number under gstr 1 6) due date of gstr1 return filling 7) due date of gstr3b return filling 8) due date of tds return filling 9) rate of tds u/s 194c ? 10) threshold limit of 9 & 9c under gst

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Answers to questions related to GST and TDS for Accountant position

RCM in GST refers to Reverse Charge Mechanism where the recipient of goods or services is liable to pay tax instead of the supplier
TDS on commission section refers to the deduction of tax at source on commission paid to agents or brokers
Credit note is issued by the supplier to the recipient in case of reduction in value of goods or services supplied, while debit note is issued by the recipient to the supplier in case of increase in value
Debit note and credit note section under GST refers to the provisions for issuing and receiving debit and credit notes for adjustments in tax liability
Export invoice table number under GSTR 1 is Table 6A
Due date of GSTR1 return filing is 11th of the following month
Due date of GSTR3B return filing is 20th of the following month
Due date of TDS return filing is 7th of the following month
Rate of TDS u/s 194C is 2% for payments made to contractors and sub-contractors
Threshold limit of 9 & 9C under GST is Rs. 20 lakhs for normal taxpayers and Rs. 10 lakhs for special category states

Accepted Answer

Answers to questions related to GST and TDS for Accountant position

RCM in GST refers to Reverse Charge Mechanism where the recipient of goods or services is liable to pay tax instead of the supplier
TDS on commission section refers to the deduction of tax at source on commission paid to agents or brokers
Credit note is issued by the supplier to the recipient in case of reduction in value of goods or services supplied, while debit note is issued by the recipient to the supplier in case of increase in value
Debit note and credit note section under GST refers to the provisions for issuing and receiving debit and credit notes for adjustments in tax liability
Export invoice table number under GSTR 1 is Table 6A
Due date of GSTR1 return filing is 11th of the following month
Due date of GSTR3B return filing is 20th of the following month
Due date of TDS return filing is 7th of the following month
Rate of TDS u/s 194C is 2% for payments made to contractors and sub-contractors
Threshold limit of 9 & 9C under GST is Rs. 20 lakhs for normal taxpayers and Rs. 10 lakhs for special category states

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