RCM on Cotton and Soyabean

Pankaj Rawat

GST Practitioner

55067 Points Posted on 15 May 2018

No it is deferred by Noti.10 CT (r) till 30/06/2018, .... No RCM

harsh

Business

105 Points Posted on 15 May 2018

Yes RCM applicable on cotton only

Pankaj Rawat

GST Practitioner

55067 Points Posted on 15 May 2018

Sorry , Yes RCM is applicable on cotton fro agriculturist. Raw Cotton under RCM from 15 Nov. 2017: CBEC Notification 43/2017 Central Tax Rate dt. 14 Nov

CA Sunil Kumar

Chartered Accountant

4524 Points Posted on 15 May 2018

As per 26th GST council meeting held on 10.03.2018, Reverse charge mechanism in case supplies made by unregistered persons to registered persons delayed till 1st july.

Pankaj Rawat

GST Practitioner

55067 Points Posted on 15 May 2018

But cotton from agriculturist purchase is cover under section 9(3) ,

plz read noti.43/2017 CT (rate) ammended principal noti. 4/2017 CT (rate)

And
9(4) is suspended till 30/6/2018 by noti.10 /2018 CT (r) (purchase from URD)

So,.. RCM is applicable purchase of cotton from agriculturist

harsh

Business

105 Points Posted on 15 May 2018

I think total cotton purchase is covered under 9(3)... What will be difference under purchase from agriculturist and urd...?

Pankaj Rawat

GST Practitioner

55067 Points Posted on 15 May 2018

Plz read both notification mention above

Balakrishnan

Proprietor

342 Points Posted on 31 December 2018

Raw Cotton is 'agriculural produce' within the definition of Noti. 12/2017 and that too if purchased from Agriculturist is sure exempted service. Hence RCM is not applicable.