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Quary on rcm

venkat (Asst. Manager - Accounts) (29 Points)

29 May 2018

Hai,

I have done some purchase from unregistered dealer in remote area for the month of March.

Can i consider this amount under Exempt purchase or under RCM purchase.

Thanks

Venkat

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2 Replies

CA Naveen Chand (Chartered Accountant) (12739 Points)
Replied 29 May 2018

exempt purchases

as the rcm is supended till 30-06-2018

Surjeet Negi (947 Points)
Replied 29 May 2018

notification no.8/2017 DT 28.06.2017 exempts intake state supplies intra-State supplies of goods or services or both received by a registered person from any supplier, who is not registered, from the whole of the central tax leviable thereon under sub-section (4) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017).
The exemption contained in the notification No. 8/2017-Central Tax (Rate) dated the 28th June, 2017 as amended by this notification shall apply to all registered persons till the 31st day of March, 2018.
N.No. 10/2018 DT 23.03.2018 : In the said notification, for the figures, letters and words “31st day of March, 2018”, the figures, letters and words “30th day of June, 2018” shall be substituted.