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)
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 Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
