Liability of RCM

S K SOMANI

CONSULTANT

22 Points Posted on 11 September 2017

yes liable to pay on RCM

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 11 September 2017

Yes Exactly. Composition dealer pay Tax under RCM basis...

Satish Kumar Vinjarapu

3 Points Posted on 11 September 2017

what is RCM?

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 11 September 2017

Reverse Charge Mechanism

rinku gupta

accountant

435 Points Posted on 11 September 2017

what is % of rcm under copositn

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 11 September 2017

Tax % is based on Items Rate.

rinku gupta

accountant

435 Points Posted on 11 September 2017

raji ji u mean not a fix % on rcm in compostn

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 11 September 2017

Yes exactly...!
The GST rate as follow RCM rate. Any difference...?

rinku gupta

accountant

435 Points Posted on 11 September 2017

but sale gst also 1% na

RAJA P M

"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)