Menu
RCM on exempted purchase related expenses.
What if the RCM is done when we are dealing in both taxable and exempt goods and by mistakely we paid RCM on exempted goods related expense so whether tax refund is eligible or not in annual return as RCM is paid on Exempted goods related expenses.
Replies (7)
Quick Summary
Wherever RCM is applicable on services, it shall be paid without differenciate that goods are exempted or not exempted.
For example - If we assume Goods Transportation Agency Service.
Even if you are taking service for Exempted goods or taxable goods... GST Under RCM shall be paid.
but ITC Shall be taken only for taxable goods part.
For example - If we assume Goods Transportation Agency Service.
Even if you are taking service for Exempted goods or taxable goods... GST Under RCM shall be paid.
but ITC Shall be taken only for taxable goods part.
But as per gst rules RCM on freight related to exempt good is exempt but its not taxable in this case what if by mistake made rCM on exempt goods
There is nothing such written.
exemption Is-
If aggregate turnover of a person is below the link for which he is not required to get registration under GST law, then the person shall be exempted from RCM.
exemption Is-
If aggregate turnover of a person is below the link for which he is not required to get registration under GST law, then the person shall be exempted from RCM.
Dear Hitesh Rawal
Yes you are absolutely correct . In term of Notification 9/2017 IGST (R) , RCM is not applicable on Services from GTA against transportation of Exempted goods , ie agriculture products. It's Exempted Services hence No RCM Applicable.
So if the RCM is deposited for the same is still lying in ECL , then yes you can claim refund for the same by filing RFD01 online on portal
Yes you are absolutely correct . In term of Notification 9/2017 IGST (R) , RCM is not applicable on Services from GTA against transportation of Exempted goods , ie agriculture products. It's Exempted Services hence No RCM Applicable.
So if the RCM is deposited for the same is still lying in ECL , then yes you can claim refund for the same by filing RFD01 online on portal
** ECL means Electronic Cash Ledger
Thank you @ Pankaj Rawat
Mr. Pankaj Rawat can you specify Serial Number of the same notification???
Recent Topics :
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
Related Topics :
CAclubindia
