| Originally posted by : Karthik Kumar N | ||
 |
Can we take ITC on tax paid under RCM |  |
Yes U can take ITC paid on RCM,while filing the return on following month.
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Rcm exemption for rs 5000/-
| Originally posted by : Karthik Kumar N | ||
|
Can we take ITC on tax paid under RCM | |
Yes U can take ITC paid on RCM,while filing the return on following month.
Petrol/diesel are exempted under gst, so will its expense be counted for daily limit.
| Originally posted by : Shreyansh Golechha | ||
|
Petrol/diesel are exempted under gst, so will its expense be counted for daily limit. | |
There is no GST on those expenses.So,no need to add in calculating daily expense limit(that will not come under reverse charge,because GST itself is not there).You have to calculate the limit on expenses which will be liable for GST.
you have to pay GST On 6000/- there is no way to exclude Rs. 5000/- From Entire purchase in a single day once it cross the exepmtion limit.
How to take ITC of RCM paid, whether it is manually or Automatic flow in gst portal?
Sir, is This limit is applicable to textile manufacturing job work also (Goods owned by principle )
Where to show (file) in GSTR 3B and GSTR 2 if URD purchases below 5000. Do we need to show details of URD purchases below 5000 anywhere?
You can take ITC after paid of RCM liability on following month but you have to keep in mind Only CGST is exempt in RCM even SGST and IGST you have to paid even expenses is less than 5000.
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