Rcm u/s 9(4)
This query is : Open
Rakesh Sharma
(Querist)
22 October 2017
Dear Experts,
Should we deposit GST under RCM u/s 9(4) in the m/o Sep-2017 also.
One more query is that we are depositing IGST today by 2 days late. So in which
head we have to deposit these 2 days interest i.e. in IGST or CGST & SGST.
Please advise.
Rakesh Sharma
Should we deposit GST under RCM u/s 9(4) in the m/o Sep-2017 also.
One more query is that we are depositing IGST today by 2 days late. So in which
head we have to deposit these 2 days interest i.e. in IGST or CGST & SGST.
Please advise.
Rakesh Sharma
Dr. ShamsheerKhan
(Expert)
22 October 2017
Rcm u/s 9(4) is valid till 12 th october from 1 st july. there onwards it is suspended upto 31 st march 2018
22 October 2017
Yes....
Interest is applicable for the late payment of GST...
(i.e. in IGST or CGST & SGST.)
Interest Based on your transaction. So, Can't give exact head...
Give your transactions....
Rakesh Sharma
(Querist)
22 October 2017
I am paying IGST sir
22 October 2017
So,
What you want exactly...?
What is your exact transactions from URD...?
Then only I says it's applicable to IGST or C/SGST....!
Rakesh Sharma
(Querist)
22 October 2017
sir, I have deposited IGST along with 2 days intt. in interest column and IGST head. Is it correct?
22 October 2017
Oh god....
Hello Mr...
Where you from purchased material...?
Rakesh Sharma
(Querist)
23 October 2017
no no sir, it's our liability on sales not on purchase from URD as there is no purchase from URD
23 October 2017
Oh very Confused...
It's your sales related Liability then why you pay RCM...?
CA Rashmi Gandhi
(Expert)
23 October 2017
Dear you dont have to pay tax under RCM because its your liability on sale.
RCM applicable when you purchase from unregistered dealer.......
Rakesh Sharma
(Querist)
24 October 2017
just simple query Rashmi mam, I have sold material to Interstate party and I have deposited IGST along with 2 days intt. as payment has been made on 22 Oct. and I have deposited 2 days intt. in IGST head, is it correct.
Rakesh Sharma
(Querist)
24 October 2017
to deposited in IGST head
CA Rashmi Gandhi
(Expert)
24 October 2017
Yes you have ro add IGST in Tax columnt & its int in IGST Intt.
Message likes :
1 times
24 October 2017
Basically it's correct...
But, What is your transaction as purchase and Sales... You ll calculate both transactions and ll pay balance taxes...
Message likes :
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