Rcm
This query is : Open
M.M.SURANA
(Querist)
05 October 2017
Sir/madam
a restaurant is registered under composite rate of tax and paying Rent to UD dealer Rs.100000/- pm. Pl clarify me RCM to paid on Rent and what on rate
a restaurant is registered under composite rate of tax and paying Rent to UD dealer Rs.100000/- pm. Pl clarify me RCM to paid on Rent and what on rate
CA Rashmi Gandhi
(Expert)
05 October 2017
Yes you have to pay RCM @18%
Message likes :
2 times
M.M.SURANA
(Querist)
05 October 2017
Pl let me know whether ITC can be claimed
CA Rashmi Gandhi
(Expert)
05 October 2017
No as you are composite dealer.
Message likes :
1 times
Trinadharao Adigarla
(Expert)
05 October 2017
18% of rent apply rcm
M.M.SURANA
(Querist)
06 October 2017
In continuation Pl clarify me about TO of Rs. 75 lakhs - Whether calculate from 1.7.2017 to March of April 17 to March 18
2. Is it possible to migrate from composite to regular GST @ 18% since TO may cross 75 lakhs in 9 months if it includes earlies 3 months April to June.
2. Is it possible to migrate from composite to regular GST @ 18% since TO may cross 75 lakhs in 9 months if it includes earlies 3 months April to June.
06 October 2017
If you cross the limit of Rs 75 Lakhs you will have to shift to GST normal scheme and comply with GST procedures in this regard.
M.M.SURANA
(Querist)
06 October 2017
My first qyerry has to be cleared about TO April to June 2017
06 October 2017
From 01/04/2017...................
If your T/O is reached Above 75 lakhs. System / GSTN automatically convert into Regular scheme.
If your T/O is reached Above 75 lakhs. System / GSTN automatically convert into Regular scheme.
Message likes :
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CA Rashmi Gandhi
(Expert)
06 October 2017
Calculation of turnover is made from April 2017
M.M.SURANA
(Querist)
06 October 2017
thanks to all expert for your clarification
M.M.SURANA
(Querist)
10 November 2017
Now there is amendment that RCM will not be charged till 31.03.2018, from which date it is effective
CA Rashmi Gandhi
(Expert)
11 November 2017
Welcome M.M. Surana
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