Overview Of RCM In Marg Software

Process To Enable RCM In Marg Software

Process To Create Goods/Services Ledger In Marg Software

Process To Create RCM Voucher Entry In Marg Software

OVERVIEW OF RCM IN MARG SOFTWARE

• Reverse charge is a mechanism where the recipient of the goods or services is liable to pay Goods and Services Tax (GST) instead of the supplier.
• Typically, the supplier of goods or services pays the tax on supply. Under the reverse charge mechanism, the recipient of goods or services becomes liable to pay the tax, i.e., the chargeability gets reversed.

PROCESS TO ENABLE RCM IN MARG SOFTWARE

• Go to Masters > Marg Setups > Control Room.

• A 'Control Room' window will appear.
• The user will select ‘Search in All’.

• A 'Controls' window will appear where the user will search 'Rcm'. 
• Click on ‘Accept’.

•  A 'Rcm' window will appear. 
• In ‘Reverse Charge (RCM) applicable on’, the user will select 'All' and '2'.

• The user will now press 'ESC' key twice.

• Now click on ‘Yes’ to save the changes.

Note: The user needs to Run File Maintenance for Implement Option.

PROCESS TO CREATE GOODS/SERVICES LEDGER IN MARG SOFTWARE

• Go to Masters > Ledger Master > Ledger > New Ledger.

• An 'Under Group' window will appear.
• The user will select 'Expenses (Indirect) (Admin. Expenses)'.

• A 'Create Ledger' window will appear.
• The user will mention the ledger details as per the requirement.

• In 'Reverse Charge', the user will select 'Compulsary'.

• A 'Select HSN/SAC' window will appear.
• The user will press 'Enter' key on particular 'Tax slab' as per the requirement.
• Suppose select '14+14+28'.

• Now the user will press 'Ctrl+W' key to save the details.

PROCESS TO CREATE RCM VOUCHER ENTRY IN MARG SOFTWARE

• Go to Accounts > Voucher Entry > Journal > GST Inward (Expenses).

• In 'Date', the user will mention the date as per the requirement.
• Suppose mention '01-08-2023'.

• A 'Ledgers' window will appear.
• The user will press 'Enter' key on ledger as per the requirement.
• Suppose select 'Ahuja Medicine Cetnre'.

• A 'GST Summary' window will appear.
• The user will select the type as per the requirement.
• Suppose select 'Local'.

• In 'Bill No.', the user will mention the bill no.
• Suppose mention 'JG000004'.

• Again 'Ledgers' window will appear.
• The user will press 'Enter' key on Goods/Services ledger as per the requirement.
• Suppose select 'Advocate Services'.

• A Marg ERP 9+ Alert will appear where the user will click on 'No'.

• A 'Select HSN/SAC' window will appear.
• The user will press 'Enter' key on Tax slab charging on services.
• Suppose select '14+14+28'.

• In 'Amount', the user will mention Goods/Services amount.
• Suppose mention '1000'.

• Now press 'End' key.

• A 'TDS Entry' window will appear.
• The user will select the option wheather to charge TDS or not.
• Suppose select 'No'.

• A 'Bill Adjustment' window will appear.
• The user will select 'New Ref./Adj. Ref'..etc as per the requirement and keep pressing 'Enter' key.

• A 'Reverse Charge' window will appear.
• The user will select 'Yes'.

• Again 'GST Summary' window will appear.
• The user will press 'End' key in the blank line.

• The user can view RCM will get load in the entry, keep pressing 'Enter' key.

• Now click on 'Save' to save the entry.

After following the above steps, the user can create RCM Voucher entry in Marg Software.