Rcm on expenses

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2017 I am registered as regular assessee under GST having Turnover of more than 1.5 crores. I had alreday paid RCM @ 5% on carrying charges from GTA.for the month of July and August,2017. As per GST Act, RCM is also to be paid on various expenses exceeding 5,000/- per day. I want to know if the amount of carrying charges on which I had already paid RCM is included in the said limit of Rs.5,000/- ?

RAJA P M

RAJA P M (Expert)
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14 November 2017 In a day your URD Expenses less than 5k then no need pay tax under RCM basis...
If it's exceeded the limit then you ll be pay tax under RCM basis on full amount.
For Ex:
Your URD Ex Rs. 5500 then you ll pay RCM tax Rs. 5500...

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