Limit of rs.5000/- on rcm coverage

Ronak (accountant) (27 Points)

04 July 2017  

With reference to RCM on GST.... Intra  state supply from unregistered dealer is exempt upto Rs 5000/- in a day from all the suppliers

Can i know the scope of this 5000/- exemption limit given for supply from local unregistered party.

Do this 5000/- cover only taxable item or includes exempt items also

for example i make the following payment:-

1. Rs 4800 payment for purchase of Printer from local unregistered party.

2. Rs 1200 payment for purchase of Milk(EXEMPT) from local unregistered party.

Now will i be liable for RCM payment.