Exp RCM required
vikas (artical) (26 Points)
24 June 2017firm exp. (ex.- hammali, tea & refreshment etc. ) ke RCM create required he kya. if not create RCM so what is effect of exp.
Amit
(Accounts Manager)
(109 Points)
Replied 24 June 2017
Yes, as per my under standing if registered person makes any transaction with unregistered person, RCM is applicable.
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 24 June 2017
Acc to Sec 17(5) of CGST Act, ITC is not allowed for food and beverages ex-tea, refreshment.. But RCM is applicable on these, if purchased from unregd dealer. So, it is an exp, u have to pay tax but no credit allowed
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 24 June 2017
RCM-Reverse Charge Mechanism
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)