1. Rs 4800/- for fabric purchased from xy & co (unregistered dealer )
2. Rs 1200/- for yarn purchase from ABC & CO (unregistered dealer.)
the above payments are made through cash.
Now pls tell me i will be covered under RCM or not?????
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covered under RCM????
Replies (5)
Yes, if both purchased on same day
thanks sir but on one day we have vehicle maintain cost, petrol exp, wages, transport charges, travelling exp, tea cash, courier charges, night food allowance, taxi fare paid. it touched rs.25000 per day. can i covered under RCM?
yes, notification provide limit for all invoices per day only 5000
in this case gst calculated on 25000/- or 25000-5000(less exempted) and paid gst on balance 20000/-
Rs. 5000 is not exemption limit. as per circular you don't have to pay under RCM if value doesn't exceed 5000, if it is increases then tax has to pay on full Amount.
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