Menu
Mandi tax or RMC charges should included in the taxable value of RCM payment on Raw cotton?
A registered dealer purchases raw cotton from agriculturist.On such purchase he is liable to pay mandi tax in mandi itself. Sir the query is whether the amount of mandi tax paid on purchase is to be added in value of purchase while calculating RCM to be paid?
Replies (1)
If you are accounting mandi tax under different ledger and not clubbing it under purchases, then it will not be included for RCM calculation.
Recent Topic
- INCOME FROM CLOSING OF NSS -1992 -EXEMPT UNDER W
- GPF AND COMMUTED PENSION RECEIVED
- How do I choose the correct trademark class? Can I
- Error in totalling salary amount in AIS
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
- Please share the roc and income tax compliance fo
Related Topics
CAclubindia
