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Reverse Charge Mechanism

RCM 317 views 8 replies
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Branch Manager
619 Points Posted on 16 July 2017
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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On 16 July 2017 at 07:44 Report
Replies (8)
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SEO Sai Gr. Hosp.
211715 Points Posted on 16 July 2017

No. He has to pay from his own first, which he can claim back as ITC.

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On 16 July 2017 at 07:57
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342 Points Posted on 16 July 2017
actually you r not paying extra. because u r getting the goods in less price..u need to pat tax then avail itc....
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On 16 July 2017 at 08:24
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338 Points Posted on 16 July 2017
Under RCM the Registered person has to pay tax.
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On 16 July 2017 at 08:36
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2 Points Posted on 16 July 2017
will redit of reverse paid get next month ?
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On 16 July 2017 at 09:03
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Branch Manager
619 Points Posted on 16 July 2017
Then what is the benefit to Govt
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On 16 July 2017 at 11:41
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Branch Manager
619 Points Posted on 16 July 2017
Then what is the benefit to Govt
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On 16 July 2017 at 11:41
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Branch Manager
619 Points Posted on 16 July 2017
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%?
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On 16 July 2017 at 11:49
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4 Points Posted on 16 July 2017
10000
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On 16 July 2017 at 13:31


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