IS URD RCM APPLICABLE WHEN GOODS PURCHASE EXCEEDING RS. 5000/-, BUT PAYMENT MADE IN DIFFERENT DATE???. LET SAY SECOND HAND BIKE PURCHASE OF RS. 20000/- FOR OFFICE USE AND PAYMENT FOR THE SAME HAS BEEN MADE OF RS. 4000/- FIVE TIME ON DIFFERENT DATES. SHOUL I CONSIDER PURCHASE WORTH EXCEEDING RS. 5000/- OR THE PAYMENT EXCEEDING RS. 5000/-??????
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URD PURCHASE RCM APPLICABILITY
Replies (1)
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RCM on general URD purchases is currently not applicable for most registered taxpayers.
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The "Rs. 5,000 per day" threshold is effectively obsolete for general business transactions.
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You should only check for RCM applicability if you belong to a specific industry sector (like real estate development) that has been specifically notified by the government to comply with Section 9(4) for certain types of inputs.
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