Reverse charge

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monica (Querist)
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23 July 2017 If total purchases is (5000 exempted + 4000 taxable) from unregistered persons in a day, will GST be payable on 4000 under reverse charge ?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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23 July 2017 Yes,.................

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monica

monica (Querist)
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23 July 2017 If you can explain how ?? Will the limit of Rs.5000 per day be not applicable ?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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23 July 2017 Purchase on 2 different days.

RAJA P M

RAJA P M (Expert)
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23 July 2017 LIMIT: Rs. 5000 per day from our Cash box or Bank.... Not person to person....

monica

monica (Querist)
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23 July 2017 Thank you for all your replies. I am aware about the fact that the limit is for all transac combined. Also the limit is not applicable for exempted pur/serv. There can be only two possibilities:
i) No tax even on taxable portion of 4000 since it does not exceed the limit of 5000.
ii) Tax on 4000 since the total of such pur/exp from unregistered persons i.e. Rs.9000 exceeds the daily limit.

Which of the above holds true??

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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23 July 2017 ii option is correct.

RAJA P M

RAJA P M (Expert)
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23 July 2017 Yes 2nd option is correct...

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