Dear Experts,
We are Registered in gst. We are giving below the expenses which we generally expense :- (all from unregister dealer)
1) Rent of shop
2) Repair and Maintenance (Building, Vehicle)
3) salary or wages
4) Interest on CC Account
5) Interest on all Loan Account
6) Insurance premium (All types)
7) Telephone Expenses
8) Printing & Stationery
9) Staff Welfare - Tea etc. and other staff related expenses
10) accounting charges
11) Legal and cosultany fees
12) bank charges
13) Petrol and diesel
14) staff welfare expenses
15) Advertisements
16) Freight Exp and transportation exp
17) electricity bill
18) misc. expenses
19)Travelling expenses
20)Audit fees
21)Accountant salary
22) transportation (reg.)
which expenses u under compulsory rcm or which are under daily limit of 5000??
no. 3, 4 and 5 will not come under rcm as gst is not payable on them...
no. 6 cannot be under rcm as it is not possible that an insurance company is not registered under gst......
no. 7 and 12 also cannot be under rcm becoz of same reason....
no. 17 will not be under rcm as no gst is yet payable on electricity.....
all other expenses will fall under rcm....there are no distinction of that which expense will be allowed 5000 limit or not....every expense will be allowed under 5000 limit....however if you cross 5000 limit in a day, the whole amount (including that 5000) will be chargeable to gst under rcm
CAclubindia
