RCM on composition scheme
Puneet kumar (Accountant ) (34 Points)
09 May 2020
If a regular party purchase from composition party, does RCM applicable ?
3 Replies
Vinay Govi
(25 Points)
Replied 09 May 2020
No RCM is applicable only for the specified services which does not include Composition Scheme
Pradeep Gupta
(Accounts Manager)
(298 Points)
Replied 10 May 2020
No..
1. it is not covered under section 9(3) of CGST Act, 2017.
2. Simple logic, assessee under composition scheme has to discharge the tax liability on his turnover... if recipient will have to pay under RCM.... then there will be double taxation.
1. it is not covered under section 9(3) of CGST Act, 2017.
2. Simple logic, assessee under composition scheme has to discharge the tax liability on his turnover... if recipient will have to pay under RCM.... then there will be double taxation.
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 22 July 2020
No, If regular register party purchase from composition party than RCM is not applicable
Assessee under composition scheme has to discharge the tax liability on his turnover on his own account, the also can not charge GST to seller.
Assessee under composition scheme has to discharge the tax liability on his turnover on his own account, the also can not charge GST to seller.
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