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What is RCM

RCM 589 views 13 replies
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1244 Points Posted on 30 July 2017
plz cleryfy what is RCM. and hwo can calaculate RCM in expenses..
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On 30 July 2017 at 09:59 Report
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128152 Points Posted on 30 July 2017
RCM means Reverse Charge Mechanism....
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On 30 July 2017 at 10:04
Guest

everse charge means the liability to pay tax is by the recipient

of goods/services instead of the supplier.Reverse charge may

be applicable for both services as well as goods.

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On 30 July 2017 at 10:04
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1244 Points Posted on 30 July 2017
but how can calculate
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On 30 July 2017 at 10:06
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128152 Points Posted on 30 July 2017
Clarification :
If you purchase item A (value Rs. 10000, GST rate @ 10%) from reg.dealer. The RD is apply tax Rs. 1000 for above said value.. The govt get Rs. 1000 as Tax for the goods....

If you purchase above item from URD. He ll be billed Rs. 10000 only. The government can't get Tax amount after purchasing URD. So, Govt fall 0... Reason for you purchased from URD.
So, You can pay the tax to Govt. That is RCM.....
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On 30 July 2017 at 10:09
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128152 Points Posted on 30 July 2017
Working :
If you purchase Rs. 100000 from URD. The items tax value is 18%. You pay Tax Rs. 18000. And you can prepare self invoice for your reference also deal it's your ITC for next return......
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On 30 July 2017 at 10:11
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128152 Points Posted on 30 July 2017
@ Vikram.,
You can't understand above reply...?
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On 30 July 2017 at 10:12
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any goods  purchase form unregister dealer 

register dealer pay gst on that goods simple meinging 

if goods purchase cosing rs 100/- where 5/-rs tax then 

register dealer pay tax amount Rs  5/-

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On 30 July 2017 at 10:15
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1244 Points Posted on 30 July 2017
dear raja sir
i have charge on 100000 @ 18% or i have concider in 100000 i.e 84745 and tax on 84745 @ 18% 15255 =100000.. it is wright or wrong
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On 30 July 2017 at 10:44
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B.COM
59 Points Posted on 30 July 2017

Could any one please explain RCM detail ?

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On 30 July 2017 at 12:43
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128152 Points Posted on 30 July 2017
@ Vikram.,
No... That is not correct and That's not tax included....
You ll be calculate exclude for the billed amount.....
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On 30 July 2017 at 14:53
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128152 Points Posted on 30 July 2017
@ AJAY.,
I also explained above....
Then what you want exactly....?
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On 30 July 2017 at 14:54
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1244 Points Posted on 30 July 2017
thanx rajaji sir
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On 30 July 2017 at 18:54
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128152 Points Posted on 30 July 2017
You are Most WELCOME....
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On 30 July 2017 at 18:56


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