Practicing Company Secretary
326 Points
Joined April 2011
Prabir ,
i have given my reply on RCM in previous thread. I am again reproducing the same in this thread too :
Under RCM, it is said supply of taxable goods or services on which GST is leviable.
Goods means every kind of movable property other than money and
securities but includes actionable claim, growing crops, grass and things attached to
or forming part of the land which are agreed to be severed before supply or under a
contract of supply;
Can be interpreted as Goods which will be supplied or agreed to be supplied on contract will be considered as goods under GST. Therefore, RCM will not be applicable on self-consumed goods.