Hello Everyone, One of my client is doing timber (wood) business..Purchasing from URD. And selling to registered dealer. He is not getting purchase bill as the party is unregistered.
1. So my question is should my client liable to pay input tax on reverse charge basis ?
2. Or directly can he pay output liablity arising from sale ?
3. Should he make purchase bill as the party is not giving him the bill ?
Menu
Regarding timber business
Replies (2)
Quick Summary
1). No RCM is applicable...
2). Pay the Output Tax Liability using E-Cash Ledger or the balance available in the e-Credit ledger ( if any )...
3). Since no RCM is applicable, the compliance of Self Invoicing ( Purchase Bill ) will not be applicable. However your client can prepare Purchase Voucher for his own internal records...
2). Pay the Output Tax Liability using E-Cash Ledger or the balance available in the e-Credit ledger ( if any )...
3). Since no RCM is applicable, the compliance of Self Invoicing ( Purchase Bill ) will not be applicable. However your client can prepare Purchase Voucher for his own internal records...
1. No RCM
2. Required to pay GST on his Outward Supply.
3. Can create voucher for such purchases.
2. Required to pay GST on his Outward Supply.
3. Can create voucher for such purchases.
Recent Topics :
- Criteria to hire an article
- Guidence requested for a Finance Professional with
- Expert Opinion Required – Form 140 Gross Amo
- WRONG TAX DEMAND - formal responses , rectificatio
- Foreign remittance
- Affordable Residential Flats in Gurgaon
- Manufacturing
- TAN REGISTRATION ON E-FILLING SITE
- Form 10-IEA – Continuing Old Regime
- Income tax act 2026
Related Topics :
CAclubindia
