RCM on Exempt supply

307 views
User Avatar

student
178 Points Posted on 25 February 2021
I need clarification please.
Is RCM applicable on Exempted supply of goods and offer a cash DISCOUNT on payments.?
is there GST RCM applicable on Cash Discounts received?
0 Reply Share Follow
On 25 February 2021 at 10:04 Report
Replies (4)
Quick Summary
This discussion seeks clarification on whether Reverse Charge Mechanism (RCM) applies to exempt supplies of goods and to cash discounts received. The consensus among participants is that RCM is not applicable in either scenario. Exempt supplies cannot be taxed under forward charge or RCM, and cash discounts are also generally outside the scope of RCM.

User Avatar

75 Points Posted on 25 February 2021
No rcm on exempt supply and on cash discount
Reply
On 25 February 2021 at 10:09
User Avatar

student
178 Points Posted on 25 February 2021
Please send if any notification on it (savinagu.venku @ gmail.com) tq
Reply
On 25 February 2021 at 10:11
User Avatar

Chartered Accountant
24588 Points Posted on 25 February 2021
No RCM is not applicable on both items
Reply
On 25 February 2021 at 12:48
User Avatar

GST Consultant
15986 Points Posted on 25 February 2021

When the supplies are exempt it cannot be taxed neither under forward charge or RCM

Reply
On 25 February 2021 at 14:49

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. TDS on under construction property not deducted
  2. GST on Fixed Assets
  3. GST ITC april 22
  4. GST PAYMENT REGARDING
  5. GST Consultation Required – June–Augus
  6. TDS Code for Salary Payment to Non-Resident Intern
  7. TDS on property
  8. Company data for software
  9. Car purchase to be eligible for ITC
  10. GST Refund on payment to builder

More recent discussions | Post

Related Topics :

Loading