Limit of 5000 and reverse tax applicability
This query is : Resolved
24 August 2017
i need to know that if the expenses are above 5000 then reverse charge will be applied on what basis??
5000 per day on aggregate basis of exepses or
5000 per day on each head of expenses or
5000 per day per person???
5000 per day on aggregate basis of exepses or
5000 per day on each head of expenses or
5000 per day per person???
Message likes :
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Amol S Joglekar
(Expert)
25 August 2017
5000 on aggregate basis.....
Vishakha Kejriwal.
(Expert)
25 August 2017
If the goods and services received from all unregistered persons in a day exceed Rs. 5000/- you would require to pay GST under RCM u/s 9(4) of the CGST Act on the entire expenses so incurred.Refer Not. 8/2017 Central Tax (Rate)
05 September 2017
and suppose the amount is due as 2000 pm and payment made after five months Rs. 10000 then?
Amol S Joglekar
(Expert)
06 September 2017
you better go through the notification 8/2017 and then come back with query.
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