Dear chartered,
Hope all are doing good,
Let me explain my doubt,
I have registered under GST and purchased Clothes from unregistered person do i need to pay tax under RCM While filing GSTR-3B??
And they are not providing invoice copy also how can i show my purchases while filing Income Tax Return what will be the impact in invoicing how to record my purchases and how to keep in documentation evidence proof for IT
Please guide me in this
Thanks in advance
| Originally posted by : sabyasachi mukherjee | ||
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If not purchased from registered dealer you cannot claim input tax credit. |  |
But that's not what she asked!
To answer the question, no you don't need to calculate and pay any RCM. Simply book the expense without tax.
As for Income Tax, depending on the value, you may end up with queries from the auditor now or the tax people later in case of a scrutiny.
If you're OK with it, claim the expense, save the payment information (NEFT advice / bank statement etc) and worry about missing supporting later.
No RCM is applicable on purchase made from unregistered dealer except otherise specified.
Since you will be making payment trough bank, in the absence of the invoice, these bank payments can act as an evidence of payment if required.
Also you can issue them payment receipt which they can counter sign.
| Originally posted by : sabyasachi mukherjee | ||
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Ushait's a long discussion.If you purchase raw materials from unregistered vendors and you hv gst registration then you will hv problems later.Make a purchase register keep records . | |
There will be no such problems with GST.
Thanks for your reply
Yes for business purpose( Resale)
CAclubindia
