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invoice from composition scheme holder
What shold be entry process of invoice recd from composition scheme holder to registered dealer, is there any Rcm applicable on that invoice.
Replies (5)
I think till date it is not yet clarified or notified
No more RCM activities if Purchased from Composition dealer...
He is one of the Registered dealer under GST...
Note :
RCM applicable only URD related inwards. Also it's suspended in current scenario...
He is one of the Registered dealer under GST...
Note :
RCM applicable only URD related inwards. Also it's suspended in current scenario...
No RCM on inward from Composition RD
So accounting entry should be done simply?
Purchase A/c Dr
To vendor
Purchase A/c Dr
To vendor
Yes... You can...
If You are noted specifically then it's better to books of accounts.
If You are noted specifically then it's better to books of accounts.
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