Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

Gst on petty cash

Neha Chauhan @ PaGaLGuY (17 Points)

27 June 2017

GST IS APPLICABLE ON PETTY CASH EXPENSES ?

Reply
Follow
Share

19 Replies

Sanket Morbiya (AC.) (91 Points)
Replied 27 June 2017

Yes if u claim in business... Identify each expenses hsn code and rate... If gst paid on that expenses its ok but if not paid pay on reverse charge... And tell employees bring bill on company name only...

1 Like

Sanket Morbiya (AC.) (91 Points)
Replied 27 June 2017

If want more details (whatsapp - 9869694292)

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (161145 Points)
Replied 27 June 2017

Notification expected in near future for exemption of cash expenses upto Rs. 5000/- . [No RCM]

More details awaited.......

2 Like

Sanket Morbiya (AC.) (91 Points)
Replied 27 June 2017

Till now no notification do rcm is better option

Mohit Sharma (26 Points)
Replied 27 June 2017

what is full form of rcm sir

Sanket Morbiya (AC.) (91 Points)
Replied 27 June 2017

Reverse charge mechanism

siril (student) (508 Points)
Replied 27 June 2017

RCM is applicable to services which is mentioned in the GST council listed service but in case of goods RCM applicable to direct purchase

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (161145 Points)
Replied 29 June 2017

Notification No.8/2017-Central Tax (Rate)

........................................................... Provided that the said exemption shall not be applicable where 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, exceeds five thousand rupees in a day...................

Copy attached

Attached File : 1648935 20170629080146 exemption rs5000 per day cgst.pdf downloaded: 1307 times

Shams (Consultant) (157 Points)
Replied 29 June 2017

So is RCM applicable on ALL GOODS where supplier is unregistered ? ... considering value is above 5000/day

siril (student) (508 Points)
Replied 30 June 2017

as per notification chat exempted upto 5000 but not sgst on RCM

Shilpa Makwana (Consultant) (42 Points)
Replied 11 July 2017

Input Credit available on RCM or Not

Sharvan singh (Student CA Final ) (29 Points)
Replied 11 July 2017

Wake Up Bro! Notification for Payment up to Rs.5,000/- per day within state has exempted vide notification dated 28/05/2017.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (161145 Points)
Replied 11 July 2017

Originally posted by : Shilpa Makwana
	Input Credit available on RCM or Not

Yes.......... but next month......... as it will get auto-populated in GSTR 2

1 Like

ROUNAK BHATIA (ASSISTANT MANAGER) (24 Points)
Replied 11 July 2017

Sir, when I pay advance to my employees for a number of petty cash items, i don't know the exact HSN code as the stuff is yet to be purchased. How do i tackle this situation? How do i charge GST on such advance?