Purchases from un registered dealers.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2017 Dear Sir,

Reverse charge is applicable for URD Purchases.
what about that tax paid under reverse charge?
can we take credit that tax?
if yes, when we can take?
is there any exemption for purchases for which URD reverse charge not apply?
what is the return for that reverse charge payment?
how to claim that & in which return?

Thank you sir..

CA KANJ GOEL

CA KANJ GOEL (Expert)
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27 June 2017 Dear,
1.You have to pay tax on supplies received from unregistered Dealers.
2. Yes, You can avail credit of tax paid under reverse charge.
3. You have to generate an invoice for the amount of supplies received from unregistered dealers and on the basis of that invoice and payment you can avail credit in your return.
4. As per FAQs issued by government no tax need to be paid under reverse charge on supplies received from unregistered dealers if such supplies are less than Rs. 5000 for a single day.

Thanks
CA Kanj Goel
9015980399

Amol S Joglekar

Amol S Joglekar (Expert)
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27 June 2017 one can take the ITC of RCM paid in the subsequent period

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