Menu
under reverse charge rate of tax
usually a registered dealer takes services and goods from unregistered persons which are taxable at different rates and some are exempted and some are out of preview of GST . and benefit of total tax paid under RCM will be allowed or not like exp on food
Replies (3)
if u purchase from URD .exempted r not covered goods under gst ....no need to pay tax under RCM ..Because in gst return hsn code will identify whether exempted r not.??
the tax rate of that commodity is the rate of tax under RCM
You won't be getting the credit for food, however if you purchase stationary, etc you'll get the credit,. There's a list for which credit will not be available. Refer sec 17(5)
Recent Threads
- Turnover limit for composition dealer in gst
- My client purchases Rs. 3 crores and his turnover
- Regarding CA foundation Exemption (Direct Entry Sc
- CFSS Scheme
- Transfer of ITC from individual to LLP
- Query of Goodwill
- Remuneration to Partners
- Request For Dhirajlal Rambhia
- Tds deduction queery
- Check ITR1 on income tax Form ITR1 Instead of 1 ho
Related Threads
CAclubindia
