Expenses under Rcm
This query is : Resolved
20 August 2017
If my threshold limit of Rs.5000 exceed in day suppose 80000 in day now if don't show this under gst what will happened?
20 August 2017
If payment is during course of business it is evasion if you do not show. You have to pay on the entire 80000 in the day without deducting 5000. This is applicable only if the 80000 are taxable supplies.
20 August 2017
it is taxable supply but I don't want to show under gst reverses charge
20 August 2017
The law it seems does not allow you to exclude taxable expenses from reverse charge if it is used for furtherance of your business. If it is below 5000 a day from URD the whole of it is to be shown under exempt. If it is above 5000 then the WHOLE of it is chargeable in RCM if it is used for your business.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Building tax payment deduction in rental Income
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- F & O PROFIT REPORTING FOR AY 2026-27
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
