Hi all,
Is RCM applicable on purchase from farmers of Sal seeds ??
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Gst applicability on purchse from unregistered persons
Replies (6)
No there is no RCM .
Yes if you purchasing Raw cotton, Cashews nuts, bidi wrapper, tobocco leaves from agriculturist , then RCM is applicable (Notification 4, 43 CT rate)
Yes if you purchasing Raw cotton, Cashews nuts, bidi wrapper, tobocco leaves from agriculturist , then RCM is applicable (Notification 4, 43 CT rate)
So if one is dealing with unregistered persons then RCM is not applicable ? Can u provide me the full notification so that I could refer the same as I had read somewhere that dealing with unregistered persons shall attract RCM which earlier was exempted upto ₹5000/- only.
No, RCM not applicable. RCM applicable only on some specified commodities
Could u please tell me the list of specified commodities.
RCM is applicable for taxable commodities is purchased from unregistered person and if the commodity is exempted one then RCM is not applicable.Pls check sal seeds are taxable or exempted one.
List available on below link.
https://www.taxwink.com/blog/goods-and-services-under-rcm
https://www.taxwink.com/blog/goods-and-services-under-rcm
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