Dear sir, My client purchased old machineries From Unregistered person so He is eligible for RCM
or How much Gst rate.
plz guide me.
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GST ON OLD MACHINERY
Replies (3)
RCM is not applicable
But sir Client made e way bill with inward supply and he shown gst 18 per in eway bill.
Not applicable...
After the CGST Amendment Act 2018, Reverse Charge Mechanism ( RCM ) U/s 9(4) of the CGST Act 2017 i.e. Purchase from Unregistered Dealer is now applicable only on specified notified goods procured by notified dealers from URD.
Purchase of Old Machinery from URD is not a notified goods for RCM U/s 9(4) of the CGST Act 2017. As of now only Transaction related to Real Estate Sector is covered under RCM for Section 9(4) of the CGST Act 2017.
After the CGST Amendment Act 2018, Reverse Charge Mechanism ( RCM ) U/s 9(4) of the CGST Act 2017 i.e. Purchase from Unregistered Dealer is now applicable only on specified notified goods procured by notified dealers from URD.
Purchase of Old Machinery from URD is not a notified goods for RCM U/s 9(4) of the CGST Act 2017. As of now only Transaction related to Real Estate Sector is covered under RCM for Section 9(4) of the CGST Act 2017.
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