RCM
This query is : Resolved
Quick Summary
Sachchidananda
(Querist)
18 February 2020
My query is during July to 12th October 2017 there is RCM provision right for unregistered purchases more than 5000/- liable for RCM. Scenario is client has not paid RCM for unregistered dealer purchases but on sale of such goods they have paid output tax . This transaction has happened in july 2017. So does they need to pay such RCM tax which they missed while filing annual return for 2017-18 or is there any way to avoid it.
My query is during July to 12th October 2017 there is RCM provision right for unregistered purchases more than 5000/- liable for RCM. Scenario is client has not paid RCM for unregistered dealer purchases but on sale of such goods they have paid output tax . This transaction has happened in july 2017. So does they need to pay such RCM tax which they missed while filing annual return for 2017-18 or is there any way to avoid it.
CA R SEETHARAMAN
(Expert)
19 February 2020
No way they need to pay such RCM tax.
Amol S Joglekar
(Expert)
19 February 2020
No need to pay such tax.
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