Payment of rcm
Ayush Jaiswal (26 Points)
01 August 2020Ayush Jaiswal (26 Points)
01 August 2020
CA Mayank A Jain
(Chartered Accountant in Practice)
(1260 Points)
Replied 01 August 2020
There is no requirement for payment of tax under RCM on procurements from unregistered person post 13.07.2017. The material purchased could be accounted as purchase from unregistered person in books of accounts. When such scrap is sold, applicable GST should be paid.
The above would be sufficient compliance. I don't see any other issue or challenge.
Ayush Jaiswal
(26 Points)
Replied 01 August 2020