19 December 2013
what is the logic of rcm applicable to pvt ltd even if turnover of service provider does not exceeds rs 10 lakhs.Isnt this law increases incidence of tax on pvt ltd itself by taking services from person other than company whose turnover doesnt exceeds rs 10 lakhs?
20 December 2013
Rs 10 lakh exemption was to exempt small service providers and to free them from such formalities.. but as a private co. is capable of doing the formalities rcm is now on body corporate.. yess it is to widen the net of tax.. theres a old saying, which is now the policy of cbec in case of rcm.. ''saanp b mar jaye aur lathi b na toote..''
CAclubindia
