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PAYMENT OF GST
Arun is a Regular dealer Under GST.He has Purchased a Sofacum bed from Unregistered Jobworker for ₹.72000/-.Arun it is sales to Unregistered person comes to ₹.82800+CGST ₹11592/- +SGST₹.11592/-.How much Tax pay by Arun.
Replies (10)
under RCM Arun must pay for 72000 cgst 10080 sgst 1008 and this can be taken as ITC after deducting ITC he pay cgst 1512 and sgst 1512 but now there is no RCM so he pay the entire tax collected by him
Purchase from Unregistered person.No input tax credit in this case.Collected tax CGST ₹11592+SGST₹11592=₹23184.This amount is paid to Government.
You can avail the credit of RCM paid against the purchases from Unregistered persons. You can avail the credit in the same month in which RCM is paid.
In this case how much cash paid to Government
You have to pay the liability as bellow
RCM laibility ( Cash) CGST ( Rs. 10,080) & SGST ( RS.10,080)
Out Put liability CGST ( RS.11,592) & SGST ( RS.11,592)
Less: INput credit CGST ( Rs.10,080) & SGST (Rs.10,080)
Net payable ( cash ) CGST ( RS.1512) & SGST ( Rs.1512)
In this cases or similar cases Purchase tax pay completely with cash and difference between Collected tax and Inwardsupply tax paid
Yes .....
thank ypu
Welcome Subhagan
thank you and congratulations
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