Notification No. 13/2017-Central Tax (Rate) provides the list of services on which reverse charge is applicable. The list of services are, Supply of Services by a goods transport agency (GTA), services by advocates, Services supplied by an arbitral tribunal to a business entity, Services provided by way of sponsorship to any body corporate
or partnership firm, specified services provided by Services supplied by the Central
Government, State Government, Union territory or local authority, services of a director, insurance agents, recovery agents of banks or financial institutions, etc, for detailed list view the Notification Rate 13 2017
The list of products on which Reverse Charge is applicable for the supply of goods is given in Notification No.4/2017-Central Tax (Rate), the products on which GST is applicable on reverse charge are Cashew nuts, not shelled or peeled, Bidi wrapper leaves (tendu) & Tobacco leaves if the supplier of goods is Agriculturist. If Silk yarn is being supplied by Any person who manufactures silk yarn from raw silk or silk worm cocoons for the supply of silk yarn, then the registered taxable person has to pay GST on Reverse Charge basis. In the case of supply of lottery tickets by state or local bodies GST on Reverse Charge is to be paid by the lottery distributor or selling agent.
As per the final return formats, Table 3 in GSTR – 2 will be auto-populated based on the data entered by the supplier’s outward return in GSTR – 1. This table will contain all inward supplies except the inward supplies on account of reverse charge.
As per the Composition Rules, a person is not eligible to take registration under the composition scheme if he is required to pay taxes under reverse charge on the closing stock or if he is having goods imported from any place other the state outside the state from where is he opting to take registration under composition scheme.
GSTR – 9A is an annual return to be filed by the Compounding Taxable Person. In Section 5 of the return details relating to the inward supply of goods and service without reverse charge, with reverse charge, import of goods and services along with the expenses for each ledger account has to be provided.
Summary details for the differences between the Annual Return and as per the Published Financial Statements for the outward supplies for Tax Liabilities on Interstate supplies, Intrastate Supplies, Exports, Sales returns, and Supplies liable for Reverse Charge along with remarks in Annex 3 of GSTR – 9B.
In table 13 of the GSTR – 2, the tax invoices issued during the month should be shown after adjusting any advances paid during previous months. The tax invoice issued during this month should be shown only for the net amount of tax payable.