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rcm applicability
I have registered under gst act as composition dealer and taken shop on rent basis from a lady on rs.10000.00 per month , whether I have to pay gst on reverse charge basis for shop taken on rent , and same this case but another business place taken from municipality on rent basis worth rs. 1800 per month whether both cases attract gst on reverse charge ?
Replies (3)
1. Rs. 10000 is tax payable under RCM basis.
2. Basically it's not coming under RCM. But, If you ll be pay the Rent on same day (1000 & 1800) In one day then you ll be pay Tax under RCM basis in both.
Otherwise you ll be make below 5k transaction for 1800 then no need pay Tax under RCM basis....
2. Basically it's not coming under RCM. But, If you ll be pay the Rent on same day (1000 & 1800) In one day then you ll be pay Tax under RCM basis in both.
Otherwise you ll be make below 5k transaction for 1800 then no need pay Tax under RCM basis....
both cases are different. there are 2 businessman one pay rs. 10000 per month to lady and another person pay rs. 1800 to municipality, but both are in composition scheme. whether both cases attract rcm ?
No...
Rs. 10k is RCM applicable.
Rs. 1.8k is not applicable RCM. At the time of payment date or Books of accounts date do not exceed 5k....
Rs. 10k is RCM applicable.
Rs. 1.8k is not applicable RCM. At the time of payment date or Books of accounts date do not exceed 5k....
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