if we purchased stationary rs 3000, electrical item rs 2000, consumable rs 2000 from unregistered in cash in a day now on which amount we calculate tax rs 7000 or calculate
on more than 5000 and can we issue one invoice in a
month will we have to charge tax on RCM on every exp. will we have to raise invoice RCM on services also.
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Replies (5)
You can consider first 2 invoices under 5000 exemption and invoice under RCM can be prepared for Rs.2000.
Also note that you can issue one invoice in a month for all such purchases rate wise.
Make a note of all such purchases, prepare a consildated invoice at the month end for each tax rate.
On the Internet, rcm is different think, that mean you have to pay GST on advance recepts,,,, what is meaning of rcm full meaning please suggest sir....
In case of GST, the levy of GST depends on the time of supply. If the receipt of payment is earlier, the supply is deemed to have been made. Thus GST is chargeable on advance. Full form of RCM is Reverse Charge Mechanism
and now, what is matter of purchasing from unregistered dealer......kind of rcm
In case of procurement from unregistered dealer, you need to generate self invoice and pay GST accordingly.
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