Reverse charge deffered date

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sadikeen (Querist)
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13 November 2017 respected sir/madam
i am very confuse about reverse charge whether it will be paid for the whole month of october or only upto 13/10/2017. please clarify this.

CA Rohit Sinha

CA Rohit Sinha (Expert)
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13 November 2017 Notification for suspension has been issued on 13/10/2017. Hence the said RCM to be paid on the transactions upto 12/10/2017.

B Vinay Reddy

B Vinay Reddy (Expert)
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13 November 2017 Yes I agree with Mr. Rohith But pls refer to below reply by ICAI INDIRECT TAXES COMMITTEE CHAIRMAN

B Vinay Reddy

B Vinay Reddy (Expert)
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13 November 2017 Madhukar N Hiregange 08 November 2017 RCM for transactions prior to 12th October 2017. Not 38.17 sets out that the provisio to Not 8/17 [ earlier limited to 5k/ day] be omitted. The question is whether omitted from 13th October or from 1st July. The postponement of levy till 31.3.2018 due to public interest leads ot a logical reasoning that the levy should not be there for period prior to Notification. If this reasoning is not taken, hardly anybody who was complying in the past would have complied for the month of october. Those who were wondering what to do will not go forward. It would have been ideal to clearly make the change retrospective which maybe read as intention if the word used " omitted" is analysed. The representation for the past period waiver are with the GST Council pending for decision. Considerign the Govts will to iron out the difficulties, maybe we can expect clarity by exempting for the past. If this happens then those who have paid and availed the credit will not have a problem. However those who have notavailed credit due to technical or understanding reasons may have to go for refund. Regards vinay Reddy like & follow to stay connected

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