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Rs.5000 Exemption limit on RCM
which section /act says there is a exemption limit of more than Rs.5000 per day for paying GST under RCM basis???
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This was mentioned in a notification and this RCM has been deferred now.
thanks
Notification no.18/2017-Central Tax date 28/06/2017.
Extract
Provided that the said exemption shall not be applicable where the aggregate value of such supplies of goods or service or both received by a registered person from any or all the suppliers, who is or are not registered, exceeds five thousand rupees in a day.
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