Rcm

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PRANAY JAIN (Querist)
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15 July 2017 ALL UNREGISTERED DEALER:-

Suppose if I purchase from A - ₹ 5000/- Tea in a day , ₹ 4500/- Printing & Stationery from B, RS. 2000/- office expenses from C, Now the total unregistered purchase is ₹ 11500/- in a day. Is it liable to pay RCM.

I seen some youtube video , they are telling that ₹ 5000/- per day from a single person not in gross or in total. further I purchase ₹ 6000/- then may it be taxable in whole under RCM.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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15 July 2017 You are liable to pay tax under RCM on Rs. 11500/- or 6000/-

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PRANAY JAIN

PRANAY JAIN (Querist)
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15 July 2017 if Exemption is upto Rs.5000/ per day then would tax applicability under RCM would be on Rs.1000/ or Rs.6000/ if total expense is Rs.6000/ for a day.

Further State governments have not issued any notification with regards to Rs.5000/ day exemptions what would that mean: That it should be taken as Rs.5000/ for both CGST and SGST or it only for CGST which in itself means nothing.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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15 July 2017 Tax charges on Rs.6000/-

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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15 July 2017 Will issued shortly...

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