What is RCM

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 30 July 2017

RCM means Reverse Charge Mechanism....

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.

vikram kerekar

1244 Points Posted on 30 July 2017

but how can calculate

RAJA P M

"Do the Right Thing...!!!"

128147 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.....

RAJA P M

"Do the Right Thing...!!!"

128147 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......

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 30 July 2017

@ Vikram.,
You can't understand above reply...?

Guest

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/-

vikram kerekar

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

AJAY.A

B.COM

59 Points Posted on 30 July 2017

Could any one please explain RCM detail ?

RAJA P M

"Do the Right Thing...!!!"

128147 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.....

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 30 July 2017

@ AJAY.,
I also explained above....
Then what you want exactly....?

vikram kerekar

1244 Points Posted on 30 July 2017

thanx rajaji sir

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 30 July 2017

You are Most WELCOME....

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AJAY.A

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