Rcm under rs.5000

This query is : Resolved

L.Thirumoorthy (Querist)
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10 July 2017 Pl advice:-
1.As per notification 8/2017 of CGST, exemption is granted upto 5000/- from Reverse Charge (per day limit). As per circular only CGST is exempted where as SGST is not. For SGST exemption under this catagory is there any notification issued ? please advice

2.As per notification 8/2017 of CGST exemption is granted up to 5000/- from Reverse Charge. Suppose I purchase goods/supply from 4 different people @ Rs.1000/-each everyday (from unregisted entity).Pl advice whether I have to prepare Tax Invoice and Payment Invoice for each party every day? or is it enough to prepare consolidated bill of supply?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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10 July 2017 You are purchasing hence you need not raise any invoice only the sellers will raise bill of supply.

L.Thirumoorthy

L.Thirumoorthy (Querist)
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10 July 2017 thanks sir..please see the query no.1 also and clarrify

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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10 July 2017 For SGST exemption under this category no notification so for issued.

L.Thirumoorthy

L.Thirumoorthy (Querist)
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10 July 2017 thank you sir...it means half of the gst to SGST is still a liability under RCM and has to follow all steps like preparing tax invoice and payment invoice?