Eshu (Accountant) 09 October 2017
I want to know that if i had purchase a transportation service from an unregistered dealer of rs. 70,000/- on bill under rcm & rs. 1500 other purchase in cash in same day.
rcm will be calculated on 71500/- or only 70000/-.
CA. Punith Harish (PRACTICING CHARTERED ACCOUNTANT) 09 October 2017
Rs. 5000/- limit is aggregate in a day not for transaction , so u need to pay tax on RCM on Rd. 71,500/- .
From 1st Oct it's not applicable ..