transaction between URD to URD

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This query is : Resolved

Vishnu (Querist)

07 July 2017 Dear experts, Can you tell me what's the effect on transaction made between unregistered person to unregistered person tell me in both point of view and what the consequence if dealer not pay liability under RCM

Message likes : 1 times

RAJA P M

RAJA P M (Expert)

07 July 2017 No more effects of this business URD to URD....

Vishnu

Vishnu (Querist)

07 July 2017 Who will be pay gst supplier or receiver?

RAJA P M

RAJA P M (Expert)

07 July 2017 Both Can't pay GST....

Vishnu

Vishnu (Querist)

07 July 2017 But I read receiver have to get registration and pay gst is this right?

RAJA P M

RAJA P M (Expert)

07 July 2017 Yes., Receiver/Buyer is Registered in this Case. Buyer pay GST under RCM...

Vishnu

Vishnu (Querist)

07 July 2017 If buyer not pay then what liability arise

RAJA P M

RAJA P M (Expert)

07 July 2017 Interest and Penalty ll be raised on the day of transaction booking

Vishnu

Vishnu (Querist)

07 July 2017 How can department trace that transaction?

RAJA P M

RAJA P M (Expert)

07 July 2017 The registered Buyer also book his purchase in accounts and return....

Vishnu

Vishnu (Querist)

07 July 2017 Sir both is unregistered buyer and seller then no body file return?

RAJA P M

RAJA P M (Expert)

07 July 2017 * But I read receiver have to get registration and pay gst is this right?
* If buyer not pay then what liability arise
* How can department trace that transaction?

** The registered Buyer also book his purchase in accounts and return....

Vishnu

Vishnu (Querist)

07 July 2017 OK sir thank u

RAJA P M

RAJA P M (Expert)

07 July 2017 URD to URD Transaction can't get anymore liabilities

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