Menu
RCM on Cotton and Soyabean
Is RCM applicable on purchase from unregistered dealer ,goods like Cotton, Soyabean
Replies (9)
No it is deferred by Noti.10 CT (r) till 30/06/2018, .... No RCM
Yes RCM applicable on cotton only
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
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.
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
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
I think total cotton purchase is covered under 9(3)... What will be difference under purchase from agriculturist and urd...?
Plz read both notification mention above
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.
Ok .... I cannot clarify more than that ....
Recent Threads
- TDS on DDA Flat Purchase
- Can CA Foundation be done without coaching
- Department issue notice to client to pay TC
- Income from profession less than 50 Lakhs
- Discover the Best CA Classes in Delhi for a Succes
- Is CA Foundation Compulsory for Becoming a Charter
- Setting CA practice.
- Difficulty in uploading itr3
- Gift received from Sister
- "off market credit transactions" mention
Related Threads
CAclubindia
