Rcm (ps,interest)
This query is : Resolved
niloy sanyal
(Querist)
11 August 2017
Can RCM apply for the following Expenses
1) PARTNER SALARY for Rs. 50000.00 each partner
2) Interest on Capital
3) Interest on Unsecured Loan paid for Directors and other Party above Rs. 5000.00
4) Share of Profit for Partner
5) Loan Paid to Party (Register Dealer)
1) PARTNER SALARY for Rs. 50000.00 each partner
2) Interest on Capital
3) Interest on Unsecured Loan paid for Directors and other Party above Rs. 5000.00
4) Share of Profit for Partner
5) Loan Paid to Party (Register Dealer)
CA R SEETHARAMAN
(Expert)
11 August 2017
No GST or RCM applicable for all the above expenses.
niloy sanyal
(Querist)
11 August 2017
Thanks Seetharaman Sir
Sir if I Unsecured Loan paid to any Company (i.e Firm/PVt. Ltd. Co.) who is register under GST Then GST Applicable
Sir if I Unsecured Loan paid to any Company (i.e Firm/PVt. Ltd. Co.) who is register under GST Then GST Applicable
CA R SEETHARAMAN
(Expert)
12 August 2017
GST not applicable on interest payments.
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