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RCM on Groundnut
Is Groundnut purchase from farmer liable under RCM during the year 2017 - 2018? What is the answer if Such Groundnut are sold @ 5% by the taxpayer
Replies (2)
RCM on inward supply from URD was Applicable till 13/10/2017 , So before 13/10/2017 RCM need to be done on purchase of groundnuts for rs 5000/- on day from farmer.
Agree with Pankaj Ji, just adding that if Groundnuts are sold with tax, ITC can also be claimed for the same.
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