if any Registered person purchase raw cotton from agriculturist then such registered person liable to pay GST under RCM.
here whether such registered person should be in business of raw cotton??
Menu
raw cotton under RCM
Replies (13)
RCM is suspended currently. So no gst on RCM
Yes, RCM payable under GST if raw cotton purchased
@ Mr. Vinod Ji, RCM again suspended till 30.09.2018 for section 9(4)
Raw cotton fall under section 9(3)
@ Mr. Vinod Ji, RCM again suspended till 30.09.2018 for section 9(4)
Raw cotton fall under section 9(3)
yes RCM is suspended still my question is whether registered person liable to pay GST under RCM only if he is in the business of Raw Cotton.
2) if he purchase the same for his personal purpose, in such case he is liable to pay GST under RCM ?
2) if he purchase the same for his personal purpose, in such case he is liable to pay GST under RCM ?
For personal purpose, no GST under RCM
As per Notification 43/2017 CT (R) , Raw Cotton Falls under section 9(3) which was never suspended , So RCM is compulsory on purchase of Raw cotton from Aggriculuralist
is exemption of 20/10 lakh is available ???
No exemption of threshold limit of 10/20 lac , if availing service or Goods from supplier whose services are under RCM , as per secrion 24 CGST Act the recepient has take compulsory registration
it means if I start the business of cotton and I purchase the same from agriculturist then in such case I have to get registered under GST and liable to pay GST under RCM
yes correct Mr. Deepak Arora, this how the law reads out...
thank you so much sir......... 😃
you are welcome Mr. Deepak Arora ........
i m not paying rcm on raw cotton from nov-17 to june-18....
but i m paying gst from sales data.
so in this case pls suggest me....
but i m paying gst from sales data.
so in this case pls suggest me....
Raw Cotton is 'agriculural produce' within the definition of Noti. 12/2017 and that too if purchased from Agriculturist is sure exempted service. Hence RCM is not applicable.
Recent Threads
- TDS on DDA Flat Purchase
- Can CA Foundation be done without coaching
- Department issue notice to client to pay TC
- Income from profession less than 50 Lakhs
- Discover the Best CA Classes in Delhi for a Succes
- Is CA Foundation Compulsory for Becoming a Charter
- Setting CA practice.
- Difficulty in uploading itr3
- Gift received from Sister
- "off market credit transactions" mention
Related Threads
CAclubindia
