16 August 2017
as value is less than 5000 cgst is exempt
but u Have to pay sgst portion under reverse charge
show it under outward supply under RCM 3000 sgst on it and cgst as 0
16 August 2017
@ Kiran Kadam.,
You don't be wrong meaning the Rs. 5000. It's all expenses in one day. Not only rent. So, If expenses is above 5k at the day you ll be pay Tax under RCM....
16 August 2017
Yeah.
In case you ll be pay rent on 15/08/2017 Rs. 3000 and all other expenses are only less than 2k then you don't fall under RCM.
In case your other expenses is Rs. 2050 you ll be pay Tax under RCM basis in that whole amount 5050.....
So, You ll plan your expenses.....
CAclubindia
