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RCM Charge

07 October 2017

A Comparison Jewellery dealer Sales of Gold and Silver Ornaments from 01.07.2017 to 30.09.2017 ₹.13.87.600/-and Old Gold Purchased from Unregistered Person for the above period is ₹.10;27;450/-.How many GST Paid for this Quarter.

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2 Replies

g mahesh Mundra (Business and tax consultant) (3299 Points)
Replied 07 October 2017

RCM will not be applicable if you purchase gold articles from individuals for consideration. and if you sold the same without melting that time also RCM is not applicable suppose if you have melted for making a new jewellery that time RCM is applicable for your purchases. then from July to September you have to file monthly return only no quarterly return allowed from Oct to Dec you may file quarterly if your turnover is below 1.5 cr