Reverse Charge Mechanism
This query is : Open
Harsh Katara
(Querist)
16 July 2017
My query is what are the consequences in case registered dealer purchases from unregistered dealer and does not pays tax on behalf of him thus not complying with RCM?
2) Second query is that small business person having turnover less than 20 lacs will not registered themselves under GST and not pay any tax, so would they too be considered as Unregistered dealer? if so won't be loss of business for them since registered dealer would prefer to buy from registered dealers instead.
thanks in advance.
CA Rashmi Gandhi
(Expert)
17 July 2017
1. No penalty or consequence mentioned now.
2. He is unregister.
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