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What is RCM
plz cleryfy what is RCM. and hwo can calaculate RCM in expenses..
Replies (13)
RCM means Reverse Charge Mechanism....
but how can calculate
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.....
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.....
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......
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......
@ Vikram.,
You can't understand above reply...?
You can't understand above reply...?
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
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
Could any one please explain RCM detail ?
@ Vikram.,
No... That is not correct and That's not tax included....
You ll be calculate exclude for the billed amount.....
No... That is not correct and That's not tax included....
You ll be calculate exclude for the billed amount.....
@ AJAY.,
I also explained above....
Then what you want exactly....?
I also explained above....
Then what you want exactly....?
thanx rajaji sir
You are Most WELCOME....
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