In GST regime, I understand that Reverse charge would be applicable if goods or services purchased from unregistered persons. Whether RCM would be applicable for purchases made for furtherance of business only or for all the expenses incurred for the organisation?
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Rcm in gst for purchases only or for expenses also?
Replies (2)
if company has a gst no and if purchase some thing for
that concern company it is from register or inregister dealer no matter
u have to pay gst on that
As per Rule 9(4), whenever some taxable goods or services are supplied by an unregistered person to a registered person, Registered person is required to pay GST. There is no requirement that such supply must be for furtherance of business, mere supply is enough.
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