Reverse charge on expenses
This query is : Resolved
SUNIL KUMAR VARSHNEY
(Querist)
28 June 2017
is Reverse charge also applicable on composite dealer on his expenses if he purchase that items for his daily exp.from unregistered Dealer
28 June 2017
Yes, if composite dealer purchases from unregd dealer, he is liable to pay under reverse charge.
SUNIL KUMAR VARSHNEY
(Querist)
28 June 2017
Not regarding purchases,but day to day expenses? Is a composition dealer required to pay Reverse charge on day to day expenses??
SUNIL KUMAR VARSHNEY
(Querist)
28 June 2017
Thank u
But Can we claim the tax paid on expenses under reverse charge as input tax credit in composition scheme?
But Can we claim the tax paid on expenses under reverse charge as input tax credit in composition scheme?
29 June 2017
No sir, there is a restriction for claiming ITC on some expenses.Like no ITC is available for food and beverages...
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