Reverse mechanism
This query is : Resolved
Prakash Rao
(Querist)
25 October 2017
I heard that Reverse mechanism on purchases from Unregistered dealers is exempted upto 31.03.2018.
My request is whether it is correct or any turnover limitations pl clarify
CA Rashmi Gandhi
(Expert)
25 October 2017
Yes same ia correct..
It is suspended for all registered persons irrespective of turnover.....
B Vinay Reddy
(Expert)
26 October 2017
Hi Prakash Rao,
RCM is suspended till 31st of March,2018 without any Turnover limits.
pls note that RCM is suspended from October month,
For JULY-SEP returns we should show RCM in GSTR 3B , 1, 2
31 October 2026
Under current law general RCM on purchases from unregistered suppliers u/s 9(4) no longer applies; since 1 Feb 2019 it covers only notified cases (mainly real estate promoters' shortfall from 80% registered procurement), while notified services under Sec 9(3), such as GTA, legal services and renting of commercial property by an unregistered person, attract RCM irrespective of turnover.
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