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Reverse Charge

RCM 167 views 4 replies
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60 Points Posted on 08 August 2017
Sir
My client is running wholesale medical business. In there purchase bill an amount is deduct in name of other adjustments.
Is this amount taxable as reverse charge or at what rate.
Please guide.
Thank you in advance
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On 08 August 2017 at 19:57 Report
Replies (4)
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jr accountant
708 Points Posted on 08 August 2017
if that amount is discount then no rcm
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On 08 August 2017 at 20:48
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"Do the Right Thing...!!!"
128152 Points Posted on 08 August 2017
No RCM effect this transaction if the seller also ll be calculate tax that expense. And you ll be take ITC.

If not you ll be pay Tax under RCM. Bcoz, It's shown other adjustments then it's not converted to discount....
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On 08 August 2017 at 21:38
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60 Points Posted on 08 August 2017
it is in nature of discount but it is deducted after charging gst
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On 08 August 2017 at 21:38
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"Do the Right Thing...!!!"
128152 Points Posted on 08 August 2017
After charging GST then RCM not applicable
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On 08 August 2017 at 22:17


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