we purchased services from interstate URP and not deposit RCM DURING JULY 17 TO 13 OCT 2107 refer to sec 5(4) of IGST...WHAT WILL BE IMPACT...
SHOULD I DEPOSIT RCM WITH INTEREST OR NOT...AS WE WILL BE NOT ABLE TO TAKE ITC ON THAT AS TIME LAPSE TO TAKE ITC FOR F.Y. 17 -18
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Interstate purchase from URP 5(4) IGST
Replies (6)
Pay with interest in Cash by Form DRC-03 in GST Portal.
No ITC available
Hi,
What will be the Interest calculation?
From the date of liability till the date of payment @ 18% per annum
No ITC available,Pay the tax with interest @ 18℅ per year by cash through DRC-03 Form.
I accept it but my my question is INTERSTATE PURCHASE NOT FALL IN PREVIEW OF 9(4) OF CGST....AS IT IS FALLS IN 5(4) OF IGST....BUT AS PER SEC 24 OF CGST ACT IT IS NOT ALLOWED UNREGISTERED PERSON TO SUPPLY INTERSTATE....BUT IT HAPPENED...NOW IT CONTRADICTS WITH 5(4) AND 24...
IS LIABILITY ARISE TO PAY TAX WITH CONTRADICTION....
IS LIABILITY ARISE TO PAY TAX WITH CONTRADICTION....
Section 23(2) CGST Act Say "The Government may, on the recommendations of the Council, by notification,specify the category of persons who may be exempted from obtaining registration under this Act."
Now Refer to Notification No. 10/2017– IGST dt. 13.10.17 which exempts a service provider from obtaining registration whose turnover is upto Rs. 20 Lacs..
Therefore, you, being the registered person, have to pay the tax on RCM basis.
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