Rs. 5000/- exemption

5k exemption is for each State where registration exists.

5K - Not to be considered for exempted goods & service are supplied or where no taxable ( diesel) goods or services ( transportation other than GTA or courier) provided.

Therefore such petty expenses to be classified into GST paid ( Comp dealers) , GST paid others, Exempted, Non Taxable. The balance needs to be bifurcated inot eleigible for credit and not eligible and the appropriate rate applied to each.   

The main problem of the 5K exmeptions for SMEs are- daily account to be kept + if it exceeds only liable + classiifcation + credit bifucation and most importantly lack of correct advise from revenue or others.

No need Show it anywhere for the 5k limit expenses...

Hi ,

I  saw few messages from  experts, said  that RCM not applicable till 31-03-2018.

5000/- aggregate i agree but RCM aplicable till 31-03-2018 or not ?????

Is't  right or wrong ??????

Originally posted by : mahesha
	Hi , I  saw few messages from  experts, said  that RCM not applicable till 31-03-2018. 5000/- aggregate i agree but RCM aplicable till 31-03-2018 or not ????? Is't  right or wrong ??????

You are exactly Right.... RCM u/s 9(4) can't applicable from 01-10-2017 to 31-03-2018.....

After 1st april we want notifications from CBEC / GSTN for RCM related activities....

But,

Don't be forget.,

RCM applicable July 2017 to September 2017...

Thanks for your valuable information madam,

If you don't mine if you have any details or notification reference means plz share with us.

Thanks,

Mahesh

Even if its exceeds 5k also NO RCM till 31-03-2018--is't right sir ???

Thank you very much !!!