sir
we are doing textbook business and it's a nill rate tax item. Recently I heard from my friends that a company expenses is not exceeding Rs5000 per day. and if the amount exceed above the Rs 5000 there liable to pay reverse charge. so how accounting such expenses and how to take these amount for reverse charges purpose.
. for eg. 02/08/17 travelling expenses Rs 3000.
02/08/17 office expenses Rs.5000
02/08/17 printing and stationery Rs 7000.
03/08/17 travelling expenses Rs.3000
04/08/17 printing and stationery Rs 2000.
my question is , which amount should I take for calculation of reverse charge ?
sorry sir...my English is not good.
daily expenses limit is 5000 if your expenses are not within limit RCM will apply
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