Purchase from unregistered dealer

RCM- is an opportunity to optimise the taxes once payable.

Invoice , Chacha slip, no bill all from unregistered is ok. The Regd assessee will raise self invoice based of the following: 

1. Bifurcate into exempt supplies and taxable supplies. If taxable supplies exceed Rs. 5000/- per regsitration under GST then..

2. Bifurcate the taxable supplies rate wise.

3. Identify which are eligible for ITC 

4. Raise 1 invoice per month with applicable GST for eligible and another one for ITC not eligile.

5. Pay and avail credit of eligible ITC on RCM.