Rcm on cotton seed

246 views
User Avatar

14 Points Posted on 19 January 2021
We have paid Freight on purchase of Cotton seed, whether RCM is applicable on the payment of freight?
0 Reply Share Follow
On 19 January 2021 at 09:34 Report
Replies (3)
Quick Summary
This discussion clarifies the applicability of the Reverse Charge Mechanism (RCM) on freight payments made for cotton seed purchases. It confirms that RCM is indeed applicable, requiring a 5% payment under Section 9(3) of the relevant act. Furthermore, it is noted that input tax credit can be availed on this RCM payment.

User Avatar

Chartered Accountant
86505 Points Posted on 19 January 2021
Yes applicable. You have to pay 5% u/s 9(3)
2 Reply
On 19 January 2021 at 11:09
User Avatar

133 Points Posted on 19 January 2021
Yes rcm is applicable
1 Reply
On 19 January 2021 at 11:30
User Avatar

102 Points Posted on 20 January 2021
RCM is applicable and credit can also be availed on the same
1 Reply
On 20 January 2021 at 00:13

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Unregistered Association of Persons (AOP) Agreemen
  2. Intimation u/s 245 of income tax act
  3. Ewaybill query
  4. IDS Refund: GSTR-2B Invoice Not Validated in State
  5. Self assessment tax paid not reflected in ITR2 fil
  6. Tax on nps corpus
  7. Tired converting GSTR-1, 2B & 3B to Clean Exce
  8. TDS on under construction property not deducted
  9. GST on Fixed Assets
  10. GST ITC april 22

More recent discussions | Post

Related Topics :

Loading