RCM on Used Rice Mill Machinery Purchased from (Closed) inoperative Rice Mills
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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.
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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
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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.
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