GST IS APPLICABLE ON PETTY CASH EXPENSES ?
19 Replies
Sanket Morbiya
(AC.)
(91 Points)
Replied 27 June 2017
Yes if u claim in business... Identify each expenses hsn code and rate... If gst paid on that expenses its ok but if not paid pay on reverse charge... And tell employees bring bill on company name only...
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(184652 Points)
Replied 27 June 2017
Notification expected in near future for exemption of cash expenses upto Rs. 5000/- . [No RCM]
More details awaited.......
Sanket Morbiya
(AC.)
(91 Points)
Replied 27 June 2017
Till now no notification do rcm is better option
siril
(student)
(508 Points)
Replied 27 June 2017
RCM is applicable to services which is mentioned in the GST council listed service but in case of goods RCM applicable to direct purchase
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(184652 Points)
Replied 29 June 2017
Notification No.8/2017-Central Tax (Rate)
........................................................... Provided that the said exemption shall not be applicable where the aggregate value of such supplies of goods or service or both received by a registered person from any or all the suppliers, who is or are not registered, exceeds five thousand rupees in a day...................
Copy attached
Attached File : 1648935 20170629080146 exemption rs5000 per day cgst.pdf downloaded: 1358 times
Shams
(Consultant)
(157 Points)
Replied 29 June 2017
So is RCM applicable on ALL GOODS where supplier is unregistered ? ... considering value is above 5000/day
siril
(student)
(508 Points)
Replied 30 June 2017
as per notification chat exempted upto 5000 but not sgst on RCM
Sharvan singh
(Student CA Final )
(29 Points)
Replied 11 July 2017
Wake Up Bro! Notification for Payment up to Rs.5,000/- per day within state has exempted vide notification dated 28/05/2017.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(184652 Points)
Replied 11 July 2017
| Originally posted by : Shilpa Makwana | ||
 |
Input Credit available on RCM or Not |  |
Yes.......... but next month......... as it will get auto-populated in GSTR 2
ROUNAK BHATIA
(ASSISTANT MANAGER)
(24 Points)
Replied 11 July 2017
Sir, when I pay advance to my employees for a number of petty cash items, i don't know the exact HSN code as the stuff is yet to be purchased. How do i tackle this situation? How do i charge GST on such advance?
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