19 April 2019
Dear Experts, Since RCM is deferred to 30/09/2019. Hence as of now No RCM is applicable on unregistered purchase. Pls let me know while making purchase voucher whether applicable tax will be levied or not....
It will be applicable only for specific person or specific category of goods & services notified by Government for the purpose
Notification No. 01/2019 – Central Tax (Rate) dated 29-01-2019, Central Government rescinds principle Notification No. 08/2017 – Central Tax (Rate) dated 28-06-2017 and consequently exemption provided till 30th September 2019 stands withdrawn.
Central Government vide Notification No. 02/2019 – Central Tax dated 29-01-2019appoints the 1st day of February 2019 as the date on which the provisions of The Central Goods and Services Tax (Amendment) Act, 2018 (No 31 of 2018), shall come into force. Amended Section 9(4) effective from 01-02-2019 read as follows: “Section 9(4). The Government may, on the recommendations of the Council, by notification, specify a class of registered persons who shall, in respect of supply of specified categories of goods or services or both received from an unregistered supplier, pay the tax on reverse charge basis as the recipient of such supply of goods or services or both, and all the provisions of this Act shall apply to such recipient as if he is the person liable for paying the tax in relation to such supply of goods or services or both”
19 April 2019
Payment voucher is required to be issued when the tax is payable by the receiver of goods & services on receipts under ‘Reverse Charge Mechanism’
In my opinion , if you are not receiving goods/ services under RCM , payment voucher need not to be issued
CAclubindia
