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/-.
CAclubindia Online Learning offers a wide variety of online classes and video lectures for various professional courses such as CA, CS, CMA, CISA as well as various certification courses on GST, Transfer Pricing, International Taxation, Excel, Tally, FM, Ind AS and more. know more
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 ..