Reverse Charge Mechanism
RAJYA LAKSHMI NALAM (17 Points)
06 August 2017
Is reverse charge applicable on opening stock?
5 Replies
RAMESH D MODI
(Proprietor)
(4869 Points)
Replied 06 August 2017
If purchased from unregistered applicable
otherwise not.
otherwise not.
Ahmed Ali
(388 Points)
Replied 06 August 2017
Q. Suppose I purchased Rs. 10 lacs worth of goods from unregistered dealers in July 2017 month. I took my GST registration in August 2017 as my turnover exceeded Rs. 20 lacs in August 2017 only. Am I supposed to pay GST under reverse charge for the goods purchased prior to my registration?
sunil kumar sharma
(jr accountant)
(708 Points)
Replied 06 August 2017
reverse charge applicable on payment basic
if you was purchase from urd June and payment will issue august then rcm will applicable
if you was purchase from urd June and payment will issue august then rcm will applicable
Ahmed Ali
(388 Points)
Replied 06 August 2017
Mr. Sunil kumar sharma,
I made payment to unregistered dealer in July(before registration).
I made payment to unregistered dealer in July(before registration).
Asif Ansari
(Tax Consultant)
(159 Points)
Replied 06 August 2017
i think rcm not applicable on opening stock
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