banner_ad

Composition scheme

This query is : Open 
Profile Image

Profile Image

(Querist)
07 August 2017 Dear All,

If any person opting composition scheme and purchase goods worth Rs 15000 from unregistered dealer, is he liable to pay tax under RCM on those goods which was purchased from unregistered dealer, if yes then is he eligible for Credit of taxes paid by him under RCM or that tax amount is considered as cost?? please refer any provision if possible
Profile Image

CA Altamush Zafar

Profile Image

CA Altamush Zafar (Expert)
07 August 2017 RCM applicable as a registered dealer is purchasing from unregistered. No credits available. Refer section 10(4).
Profile Image

ankita gupta

Profile Image

ankita gupta (Querist)
08 August 2017 it mean person opting the composition scheme also liable to pay tax under RCM if they purchase from unregistered dealer
Profile Image

RAJA P M

Profile Image

RAJA P M (Expert)
08 August 2017 No credits available. But, Considered as cost. After the items value is higher than regular dealer......
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
25 April 2026
Tax Executive/Manager

BDMV & Co, Chartered Accountants

Mumbai

CA Final

View Details
Company
29 April 2026
Associate - Audit, Tax & Compliance

Open Co Consulting LLP

New Delhi

B.Com

View Details
Company
28 April 2026
Senior Accounts Professional

Vivek S Gupta & Associates

New Delhi

B.Com

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
01 May 2026
Chartered Accountant

Agrawal Jain & Co.

Raipur

CA

View Details
Company
26 April 2026
Chartered Accountant

Source HR

Mumbai

CA

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details