Reverse charge mechanism vide notification 08/2017 dated 28

Save Share

This query is : Resolved

peddi rajesh (Querist)

26 July 2017 hello,
i have doubt relating to notification 08/2017 dated 28 .that notification says reverse charge provisions would not be applicable if the aggregate value of such supplies of goods or service or both received by a registered person from any or all the suppliers, who is or are not registered, does not exceed Rs. 5000 in a day

In our view, the above limit of Rs. 5000 is only for taxable supplies by unregistered person. If any exempt supply is procured then such amount shall not be considered for the limit of Rs. 5000
.MY DOUBT IS if a registered person paying rent relation to commercial property TO UNREGISTERED person rent of 120000 for month.per day is 4000(4000*30) as per notification reverse charge is not applicable if the aggregate value of such supplies of goods or service or both received by a registered person from any or all the suppliers, who is or are not registered, does not exceed Rs. 5000 in a day,so in the case aggregatevalue not exceeding 5000 per day so reverse charge is not applicable as per my view.please clarify whether reverse charge applicable (or) not.apart from iam not taking any goods& services from unregistered person

Read more at: https://www.caclubindia.com/experts/ask_query.asp

RAJA P M

RAJA P M (Expert)

26 July 2017 No.... Its not applicable above said way....

If you/me/staff go to purchase at the time your expense is Rs. 100 for Stationary. you got bill Rs. 100 from URD.

Then how to you book it your accounts...?
26/07/2017 - Stationary Ex Rs. 100 youll book this way. Then,

How to book the Rent in Your books.....?
01/07/2017 - Rent paid - Rs. 4000
02/07/2017 - Rent paid - Rs. 4000
03/07/2017 - Rent paid - Rs. 4000
04/07/2017 - Rent paid - Rs. 4000
05/07/2017 - Rent paid - Rs. 4000.... This Way....???????

Message likes : 1 times

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