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reverse charge
I purchased capital goods from unregistered dealers, whether reverse charge is applicable on this purchase?? reverse charge GST liability can set off against input GST or paid in cash??
Replies (3)
no it has to be paid in cash
RCM is applicable only if consideration for such services exceed five thousand rupees , tax paid under RCM is allowable as ITC and can be setoff against output tax liability
total purchases from urd exempt limit 5000 daily
if aggregate is more than all taxable
if aggregate is more than all taxable
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