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RCM basic exemption
if there is basic exemtion in RCM is 5000 pee day. Then if expenses is paid by cheque then how we will presume that on which date payment hasbeen made on chque given to party or on which cheque is cleared & which expenses are not exempt for RCS basic exemtion.
Replies (3)
| Originally posted by : L7843 | ||
 |
if there is basic exemtion in RCM is 5000 pee day. Then if expenses is paid by cheque then how we will presume that on which date payment hasbeen made on chque given to party or on which cheque is cleared & which expenses are not exempt for RCS basic exemtion. |  |
In case of RCM point of taxtion:- whichever is earlier-
1. payment (date on which receipient enterd the payment in his book OR date on which payment is Dr. from his book)
OR
2. Goods receipt
OR
date immediately after 30 days from the date of invoice by supplier (in case of service 60 days)
thank u sir
| Originally posted by : L7843 | ||
|
thank u sir | |
Your welcome
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