w to calculate reverse chage, and want to know on what are things/expenses are on reverse charge i am working in pvt ltd. company i am very much thankfull, if anyone have deeply knowledge pls guide me

All expenses under RCM exept Employer and eployee relationships...

If you ll give labour work to your vendor/your neighbour company. They haven't registered under GST. They give you bill Rs. 10,000

The labour charge Tax rate @ 18%. Rs. 10,000*18%=1800. You ll pay the amount for CGST & SGST on vendors billing day to immediate cash payment. Cash payment means Online payment Rs. 900 to SGST and Rs. 900 to CGST. After the return period you can take ITC on above said amount...

Rs. 5000 allowed per day for the expenses can't RCM... It ll be planned by you..

You want any other details...

Ask to here for a single and single queries...

first of all thanks for the giving me the valuable guidence.

Can you pls clerify "Rs. 5000 allowed per day for the expenses can't RCM... It ll be planned by you."

Thanks & Regasrds.

Manoj

Dear Manoj.,

Rs. 5000/day...from petty cash is allowed without RCM....

Ex: Tea, Water and some small ex in a company on daily basis. So, The said ll be use these smallest expenses. I think its totally not more than 5000. (small & medium business).

A system serviced Rs. 5000. If you give Rs. 5000 cash to the person. Its single transaction but limit is over. After all expenses in that day in falling under RCM. So, Its planned by you. You can ask & receive the bill for the service man...

Thanks Mr. Raja

I have a another query for service tax under RCM

i have paid the service tax under RCM of ocean freight which is charged by foreign exporter.

foreign exporter charged 50 usd freight bill.

i calculated 50 x 65.35 (exchange rate) = 3268

3268*70% =980

ser.tax 14%=137

kkcess0.5%=5

sb cess 0.5%=5

i have paid 147

now how to accounted/treated in account tally software in RCM