i went outside state, there i purchased some goods from urd and bring them in here in my state. i paid rcm as igst on that purchase...
is there anything wrong in it?
7 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 22 January 2021
Nothing wrong... but why you paid RCM????
Shoeb Hasan
(81 Points)
Replied 23 January 2021
If the buyer is registered dealer and he purchases taxable goods from unregistered dealer then he have to pay gst as rcm
Parag Jain
(4 Points)
Replied 23 January 2021
No RCM is to be paid on such goods even if you purchase from URD.As RCM is to paid on selective goods only as per the notification.But you have to mention in 3B about such purchase from URD.
If I wrong,Please correct me.
If I wrong,Please correct me.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 23 January 2021
RCM applicable on notified goods only.
No need to pay RCM on other purchases from URD.
No need to pay RCM on other purchases from URD.
Shoeb Hasan
(81 Points)
Replied 24 January 2021
Will rcm applicable on finished leather and timber if i purchase it from urd?
shanmugam
(Finance head)
(22 Points)
Replied 26 January 2021
The year 2018-19 when checking 2A, foud excess credits available, we have taken the entry in our book in that period, how can we take credit now.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 26 January 2021
You can't claim it as Sec 16(4) restrict to claim ITC of FY 2018-2019 after dur date of Septemeber 2019 return.
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