Q. 479 The case study is (We being a startup): Foreign investor has received legal services from a foreign firm. As part of fund raise agreement, we (startup) have to reimburse these legal expenses to our investor. Is RCM applicable on same ?

Ans. In the above case, reimbursements should be taxable if there is provision of goods or services against the consideration. Since in the above case, there is no supply involved, therefore the services are not to be covered under RCM. However, it is advised to take detailed opinion on the above subject matter. 

Q. 478 RCM liability of FY 21-22 paid during FY 22-23 and also claimed as input in FY 22-23. Where to show in GSTR 9 ? 

Ans. In the above case, the effects of the transaction to be recorded in GSTR-9 of FY 22-23.

Q. 477 I want more case laws on books of accounts sec 35 other than metenere ltd ?

Ans. Under GST, the case law available is M/s Metenere Ltd. Vs. Union Of India – 2021 (52) G.S.T.L. 12 (High Court – Allahabad).