Dear Experts
Under Reverse Charge Mechanism whether the reciever of goods or service has to pay tax from out of his pocket or he has to collect it from the unregistered supplier?
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Reverse Charge Mechanism
Replies (8)
No. He has to pay from his own first, which he can claim back as ITC.
actually you r not paying extra. because u r getting the goods in less price..u need to pat tax then avail itc....
Under RCM the Registered person has to pay tax.
will redit of reverse paid get next month ?
Then what is the benefit to Govt
Then what is the benefit to Govt
First month we are paying, then we are claiming ITC , What is the income to Govt
Please Explain
Eg.Purchasing goods from "A" an unregistered supplier for Rs.10000 and Tax rate is 28% under RCM.
How much I have to pay to "A" for closing his A/C.Whether Rs.10000 or an amount reduced by 28%?
10000
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