RCM for Composite dealer?
priyanka (Accountant) (32 Points)
04 August 2017
Kaushik Deepak (KD)
(Officer Accountant)
(1136 Points)
Replied 04 August 2017
Originally posted by : priyanka | ||
If I am a composite dealer, I am not able to take any kind of setoff/credit then also need to pay GST under RCM? |
Studentsca
(CA Practice )
(3577 Points)
Replied 04 August 2017
Kaushik Deepak (KD)
(Officer Accountant)
(1136 Points)
Replied 04 August 2017
Originally posted by : Studentsca | ||
If you purchase from Unregistered persons in excess of Rs. 5,000/- per day then yes. |
Studentsca
(CA Practice )
(3577 Points)
Replied 04 August 2017
Kaushik Deepak (KD)
(Officer Accountant)
(1136 Points)
Replied 04 August 2017
Originally posted by : Studentsca | ||
@ DeepakEven Composition dealer required to pay GST on supplies obtained from Unregistered person. |
MAHESH PISAL
(CA Student)
(65 Points)
Replied 04 August 2017
Is there any documentory evidence or any section or rule. Because many retailers are registered under Compostion & having shop on Rent. Thats why this question has arrise whether they need to pay GST on rent as owner in not registered.
Studentsca
(CA Practice )
(3577 Points)
Replied 04 August 2017
Kaushik Deepak (KD)
(Officer Accountant)
(1136 Points)
Replied 04 August 2017
Originally posted by : Studentsca | ||
@ Deepak Could you please tell who would pay GST in that case ?? |
No as the composition dealer cannot collect tax paid by him on outward supplies from his customers , the registered person making purchases from a taxable person paying tax under the composition scheme cannot avail credit .
Kaushik Deepak (KD)
(Officer Accountant)
(1136 Points)
Replied 04 August 2017
Originally posted by : Studentsca | ||
@ Deepak Could you please tell who would pay GST in that case ?? |
No as the composition dealer cannot collect tax paid by him on outward supplies from his customers , the registered person making purchases from a taxable person paying tax under the composition scheme cannot avail credit .
Ashok Jain
(89 Points)
Replied 04 August 2017
SAFIQUE UZZAMAN
(asstt professor)
(77 Points)
Replied 04 August 2017
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India