RCM and self invoicing

Save Share

This query is : Resolved

Satpal kumar (Querist)

10 October 2017 Can any ans me that I purchase goods on 06.09.17 from a commission agent (kaccha ahartia) on I - farm with I a farm number.I -Farm shows value of goods actual rated plus commission plus labour expenses plus gaushalla exps in that case on what value that RCM applicable.In that case RCM applicable or not. if applicable then Self invoices applicable is genraated or not.Is it any provision that every month self invoice genrated if RCM payable only on last day of the month ?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

11 October 2017 No RCM applicable as goods purchsed from farmer is nit taxable.

Dr. ShamsheerKhan

Dr. ShamsheerKhan (Expert)

11 October 2017 Sale of production of any farm is an Agricultural product. Agricultural products which are non-branded are not taxable. Hence No question of RCM arose on these products. No matter if you purchase it from Commission agent or farmer.

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)

31 October 2026 Besides the produce, the commission agent's commission and loading/unloading labour for agricultural produce are also exempt, so no RCM or self-invoice is needed; note that under current rules exemption depends on the produce not being pre-packaged and labelled (the old 'branded' test was replaced from 18 July 2022).

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now