Reverce charge on Rent
R.S.TRADING CO. (30 Points)
13 October 2017
well if I paid rent to unregistered person it's comes under reverse charge or not
13 Replies
RAJA P M
("Do the Right Thing...!!!")
(128111 Points)
Replied 13 October 2017
From October RCM not applicable for above said way...
But, wait for further notification...
But, wait for further notification...
CA Rashmi Gandhi
(Chartered Accountant)
(86500 Points)
Replied 13 October 2017
Till sept same is covered under RCM if amt is more than Rs.5000/.
However same is suspended from October.....
However same is suspended from October.....
RAJA P M
("Do the Right Thing...!!!")
(128111 Points)
Replied 13 October 2017
Suspended from October.....!
But, wait on further notification from CBEC
But, wait on further notification from CBEC
R.S.TRADING CO.
(30 Points)
Replied 13 October 2017
well I have to pay rent Rs 14000 per month from July and I will pay it now in Oct so reverse charge applicable on July August & Sep is also applicable if we paid it in Oct month
RAJA P M
("Do the Right Thing...!!!")
(128111 Points)
Replied 13 October 2017
Yes...
Exactly applicable RCM for the above said periods...
Exactly applicable RCM for the above said periods...
RAJA P M
("Do the Right Thing...!!!")
(128111 Points)
Replied 13 October 2017
Yes...
Exactly applicable...
Exactly applicable...
anshul aggarwal
(Consultant)
(1074 Points)
Replied 13 October 2017
RCM is not on payment. It is when an expense is credited to the account. So your rent for July Aug and Sept will come under RCM as rent is monthly.
CA Rashmi Gandhi
(Chartered Accountant)
(86500 Points)
Replied 13 October 2017
I am disagree with you anshul aggarwal.
In my view it is based on payment. So he has not to pay under RCM.
In my view it is based on payment. So he has not to pay under RCM.
RAJA P M
("Do the Right Thing...!!!")
(128111 Points)
Replied 13 October 2017
No....
Payments are adjustable to expenditure account. It's not applicable in Tax head...
Payments are adjustable to expenditure account. It's not applicable in Tax head...
anshul aggarwal
(Consultant)
(1074 Points)
Replied 13 October 2017
Rashmi,
Does that mean if we buy from URD worth 10000 and make payment as 3000, 3000 and 4000 on different dates. Then RCM will not be applicable?
I don't think it has anything to do with payment. It is when bill is credited irrespective of payment is done. Your views will be appreciated.
Does that mean if we buy from URD worth 10000 and make payment as 3000, 3000 and 4000 on different dates. Then RCM will not be applicable?
I don't think it has anything to do with payment. It is when bill is credited irrespective of payment is done. Your views will be appreciated.
CA Rashmi Gandhi
(Chartered Accountant)
(86500 Points)
Replied 13 October 2017
but as per CGST Act,
In case of reverse charge, the time of supply shall be the earliest of the following dates:
The date of paymentThe date immediately after 60 days from the date of issue of invoice by the supplier
In case of reverse charge, the time of supply shall be the earliest of the following dates:
The date of paymentThe date immediately after 60 days from the date of issue of invoice by the supplier
anshul aggarwal
(Consultant)
(1074 Points)
Replied 14 October 2017
Yes I agree with you.
In this case time of supply is monthly rent receipt.
But dealer is not Accounting the same and making quarterly payment for same. But rent agreement will decide time of supply which is monthly.
In this case time of supply is monthly rent receipt.
But dealer is not Accounting the same and making quarterly payment for same. But rent agreement will decide time of supply which is monthly.
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