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Rcm

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(Querist)
05 October 2017 Sir/madam

a restaurant is registered under composite rate of tax and paying Rent to UD dealer Rs.100000/- pm. Pl clarify me RCM to paid on Rent and what on rate
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
05 October 2017 Yes you have to pay RCM @18%
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M.M.SURANA

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M.M.SURANA (Querist)
05 October 2017 Pl let me know whether ITC can be claimed



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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
05 October 2017 No as you are composite dealer.
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Trinadharao Adigarla

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Trinadharao Adigarla (Expert)
05 October 2017 18% of rent apply rcm
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M.M.SURANA

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M.M.SURANA (Querist)
06 October 2017 In continuation Pl clarify me about TO of Rs. 75 lakhs - Whether calculate from 1.7.2017 to March of April 17 to March 18
2. Is it possible to migrate from composite to regular GST @ 18% since TO may cross 75 lakhs in 9 months if it includes earlies 3 months April to June.
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
06 October 2017 If you cross the limit of Rs 75 Lakhs you will have to shift to GST normal scheme and comply with GST procedures in this regard.
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M.M.SURANA

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M.M.SURANA (Querist)
06 October 2017 My first qyerry has to be cleared about TO April to June 2017



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RAJA P M

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RAJA P M (Expert)
06 October 2017 From 01/04/2017...................

If your T/O is reached Above 75 lakhs. System / GSTN automatically convert into Regular scheme.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
06 October 2017 Calculation of turnover is made from April 2017
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M.M.SURANA

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M.M.SURANA (Querist)
06 October 2017 thanks to all expert for your clarification
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RAJA P M

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RAJA P M (Expert)
06 October 2017 You are most welcome....



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M.M.SURANA

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M.M.SURANA (Querist)
10 November 2017 Now there is amendment that RCM will not be charged till 31.03.2018, from which date it is effective
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RAJA P M

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RAJA P M (Expert)
10 November 2017 From 13th October...
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
11 November 2017 Welcome M.M. Surana




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