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Liability of RCM

RCM 579 views 20 replies
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31 Points Posted on 11 September 2017
Composition dealer is liable to pay gst under RCM ?
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On 11 September 2017 at 03:18 Report
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CONSULTANT
22 Points Posted on 11 September 2017
yes liable to pay on RCM
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On 11 September 2017 at 05:05
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"Do the Right Thing...!!!"
128152 Points Posted on 11 September 2017
Yes Exactly. Composition dealer pay Tax under RCM basis...
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On 11 September 2017 at 06:11
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3 Points Posted on 11 September 2017
what is RCM?
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On 11 September 2017 at 07:28
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Chartered Accountant
86505 Points Posted on 11 September 2017
Reverse Charge Mechanism
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On 11 September 2017 at 07:34
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accountant
435 Points Posted on 11 September 2017
what is % of rcm under copositn
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On 11 September 2017 at 08:26
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"Do the Right Thing...!!!"
128152 Points Posted on 11 September 2017
Tax % is based on Items Rate.
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On 11 September 2017 at 08:40
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accountant
435 Points Posted on 11 September 2017
raji ji u mean not a fix % on rcm in compostn
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On 11 September 2017 at 08:41
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"Do the Right Thing...!!!"
128152 Points Posted on 11 September 2017
Yes exactly...!
The GST rate as follow RCM rate. Any difference...?
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On 11 September 2017 at 08:45
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accountant
435 Points Posted on 11 September 2017
but sale gst also 1% na
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On 11 September 2017 at 08:55
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"Do the Right Thing...!!!"
128152 Points Posted on 11 September 2017
Don't be confused RCM related tax and Turn Over based tax.
The 1% or 2% tax is turn over based taxes payable by Composition dealer...
RCM related tax is purchased from URD then ll be pay Tax under RCM basis by both registered dealer (Regular dealer and Composition Dealer)
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On 11 September 2017 at 09:09
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1464 Points Posted on 11 September 2017
Similarly rent paid by you attract RCM if landlord is not registered.
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On 11 September 2017 at 11:24
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Chartered Accountant
86505 Points Posted on 12 September 2017
RCM is to be paid on normal rate.

Composition fixed tax is to be paid on outward supply only
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On 12 September 2017 at 21:20
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31 Points Posted on 13 September 2017
if composition dealer pay tax under RCM bases than rcm is available for adjusted against gst payable by him or not. ????
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On 13 September 2017 at 15:18
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1464 Points Posted on 13 September 2017
No RCM pd is not available to you as ITC. You have to pay your composition levy in cash
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On 13 September 2017 at 17:13


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