reverse charge mechanism

This query is : Resolved

karthikrao (Querist)
Follow

24 July 2017 Under Reverse charge buyer can purchase from unreg dealer seller from interstate. 2.limit of RS.5000 applicable for both local and interstate? 3.Conditions of availing ITC by buyer He can take ITC from local and interstate? plz clarify.

Saket Agarwal

Saket Agarwal (Expert)
Follow

24 July 2017 Hi,

First of all, as per section 24(i) every person making an interstate supply has to compulsorily take registration. Hence, buying from an unregistered dealer interstate is remote.

Still, if in some situation interstate purchase has been done from an unregistered person, it shall also be included in calculating the Rs.5,000 limit.

There are many conditions for claiming ITC - Refer Section 16 of CGST Act and rules made thereunder.
ITC of interstate transactions can also be availed (if eligible otherwise)

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

JACOB ABRAHAM KURIALANICKAL

Pritanu Chakraborty

Tax Expert Group

MAYANK

Devaraj B V

Subscribe Now

reverse charge mechanism

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Manager- Finance and Compliance

Accountant

Senior Executive

GST CONSULTANT

CA Final