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RCM on supply
GST have to paid by Registered person on receiving Taxable Supply of goods or services from unregistered person. The query is if I have paid conveyance exp to a taxi driver., Monthly tea bill paid to a tea vendor who are generally URD are these type of expenses liable under RCM?
Replies (3)
yes you have to make self invoice and deposit the gst and take itc after that.
In case a registered dealer has to pay GST on all TAXABLE Goods / Services from unregistered dealer, then what is the relevance of making a list of services which are under RCM? Further has GST Council notified any list of Goods which are covered under RCM? They have issued list of only services. Plz share your views.
Every person has to look at his expense side of profit and loss account every month and has check if there are purchases from any unregistered person because that will attract reverse charge. Hence business has to be done very carefully, in case of any mistake interest and penalty will have to be paid on such purchase
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