If reverse charge mechanism is not applicable in case the aggregate value of goods or services (received by a registered person from unregistered person) is less than 5000 a day, then who is liable to pay the tax to the Govt.???
No one is liable to pay tax to the Govt. It is a relief for small enterprises by govt. If the value of goods or services from one or all the unregistered suppliers is less than 5000 a day i.e. If the value is not greater than 5000 in aggregate in a day from all of the suppliers then there is no need to pay tax.
the government will still get the same tax as you will pay full tax when you will sale those goods and you will get nothing as credit as you didn't paid gst on that purchase on rcm basis....however this notification is beneficial for composition dealers as they can show RS 150000 purchase every month through this and will pay only 1 or 2 percent of tax.
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