Today's my expenses are following, 1. Stationary - Rs. 1500 2. Consulting Charges - Rs. 2000 3. Water Charges - Rs. 950 and 4. Petrol Charges - Rs. 1500... Totale - Rs. 5950/- The first three expenses from URD and Petrol is Out of GST.
Can I don't want calculate RCM for the expenses except Petrol Rs. 4450/-. One day expense allowable under GST Rs. 5000/- Please give me your suggestions...
01 August 2017
In my opinion as there is no levy on petroleum products they are out of the ambit of GST Law. However if exempt goods were purchased along with taxable goods then RCM would have been applicable.
CAclubindia
