RCM on Used Rice Mill Machinery Purchased from (Closed) inoperative Rice Mills
This query is : Open
26 April 2023
Sir/Madam
My client deals in second hand rice mill machinery business. They purchase Used machines from bank auctions, inoperative rice mills and the same are sold to another rice mills with or without repairs. They purchase from all over India. They are registered as Regular GST Dealer.
My queries are
1. Do they need pay to pay RCM on purchase of machinery (inter state) from Unregistered Dealer?.
My client deals in second hand rice mill machinery business. They purchase Used machines from bank auctions, inoperative rice mills and the same are sold to another rice mills with or without repairs. They purchase from all over India. They are registered as Regular GST Dealer.
My queries are
1. Do they need pay to pay RCM on purchase of machinery (inter state) from Unregistered Dealer?.
26 April 2023
RCM not applicable but they have to pay GST on the profit they earn.
Message likes :
1 times
26 April 2023
Agree with Seetharaman Sir. Even you can advice your client to opt for Margin scheme for tax payment.
Regards
CA Sandesh Mahipal
Regards
CA Sandesh Mahipal
Message likes :
1 times
27 April 2023
Thank you so much CA Seetharaman sir and CA Sandesh Mahipal sir.
Sir, Is ewaybill required for transport of such second hand machinery (on purchase) from URD place (Both intra and interstate cases).
Sir, Is ewaybill required for transport of such second hand machinery (on purchase) from URD place (Both intra and interstate cases).
27 April 2023
Yes, e-way is required.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Rent lease agreement
- REGARDING SECTION 44AE
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
