Self Invoicing under RCM w.e.f. 1st November 2024 | GST Tutorial | Miracle Accounting Software |2025

Описание: #inventorymanagement #RCM #cloudaccounting

Welcome to our latest tutorial on self-invoicing under RCM, a new rule that took effect on 1st November 2024. In this video, we'll guide you through how to comply with this rule and generate Self-Invoices using Miracle Accounting Software.

📝 Key Takeaways:
✅ What is Self-Invoicing under RCM? 🤔
◼️ Registered buyer’s responsibility to pay GST when purchasing from an unregistered supplier.
◼️ Buyer must now generate a Self-Invoice to ensure tax accuracy.

✅ Steps to Generate Self-Invoice in Miracle Software 📊
◼️ Navigate to Transaction _ Purchase Invoice.
◼️ Choose RCM entry and fill out the necessary details.
◼️ Voucher No. is mandatory; you can create a custom RCM series.

✅ Where to Find the Effect of Self-Invoice 📑
◼️ Check in the GSTR-1 Docs Section under “Invoices for inward supply from an unregistered person.”

✅ Additional Entries in Miracle 📚
◼️ RCM Voucher 🧾
◼️ GST Expense Entry 💼
◼️ Service Entry under GST Expense 🌐

Watch Related Video
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Learn How To Add Notified RCM Entry & Input Text Credit Entry To Receive ITC in Miracle Software
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