RCM

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shraddha (Querist)
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21 December 2020 Please tell me the whether the GST is applicable on the renting of the movable properties like plant & machineries, computers, furniture etc…..

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 December 2020 Yes, GST applicable on such rental income.

shraddha

shraddha (Querist)
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22 December 2020 IF I TAKE A MACHINE ON RENT FROM UNREGISTERED PERSON ,CAN I LIABLE TO PAY RCM ON MACHINERY RENT? please specify with relevant provision?

Nandini H Gupta

Nandini H Gupta (Expert)
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22 December 2020 Yes the activity is liable to tax under HSN 9973 as Leasing or
rental services -"Transfer of the right to use any goods for any purpose (whether or not for a specified
period) for cash, deferred payment or other valuable consideration" and rate of tax "same as rate of good on it sale".
The entire query is again subject to registration limit under GST

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 December 2020 RCM not applicable for these services.

shraddha

shraddha (Querist)
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23 December 2020 WHY? RCM NOT APPLICABLE ON MACHINERY RENT PAID TO UNREGISTERED PERSON

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 December 2020 RCM applicable only on selected items. This rent does not fall under the list.

shraddha

shraddha (Querist)
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23 December 2020 RCM APPLICABLE ON ADVT EXP?

shraddha

shraddha (Querist)
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23 December 2020 SIR, can you please share the RCM Applicability List in FY 2018-2019

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 December 2020 See the link.
https://taxguru.in/goods-and-service-tax/reverse-charge-mechanism-rcm-list-gst.html

shraddha

shraddha (Querist)
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29 December 2020 If I purchased an Asset worth Rs.100000/- for office they charged GST of Rs.5000/- in the bill.

Clarification:-

1. Shall we take input tax credit of this GST paid

2. After taking credit shall we able to claim Depreciaton on this Asset. ? in which amount ? ( including of GST or excluding of GST)
PLEASE SPECIFY WITH PROVISION FOR REFERENCE

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 December 2020 1 Yes , ITC can be claimed.
2 Depreciation can be claimed excluding GST.

shraddha

shraddha (Querist)
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30 December 2020 THANK YOU SO MUCH SIR

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