RAJA P M
("Do the Right Thing...!!!")
(128085 Points)
Replied 14 August 2017
Sumit Shah
(Chartered Accountant)
(50 Points)
Replied 14 August 2017
RAJA P M
("Do the Right Thing...!!!")
(128085 Points)
Replied 14 August 2017
Originally posted by : Sumit Shah | ||
The item here is tobacco leaves purchased from farmers and brought via trucks. Should I apply 5% on purchases by making a bill or only apply 5% on my sales. Will I get input for gst paid on purchases via rcm. Please clarify. |
If you pay under RCM basis. Then you can get reverse/ITC....
Purchased leaves then Sale is Same leaves....?
CA Divyesh Sodha
(Partner)
(271 Points)
Replied 14 August 2017
CA Divyesh Sodha
(Partner)
(271 Points)
Replied 14 August 2017
RAJA P M
("Do the Right Thing...!!!")
(128085 Points)
Replied 14 August 2017
@ Sumit.,
Yes you can...
First you pay the tax under RCM. Then you ll be get/reverse it ITC
Gauri Shankar Jha
(B.Com)
(27 Points)
Replied 17 August 2017
Dear Sir
Our Company is in SEZ Area when ever we are purchasing from unregistered dealer they are not giving proper invoice ..in that situation what will have to do...
Gauri Shankar Jha
Mahesh
(Accountant)
(47 Points)
Replied 18 August 2017
Sir little doubt in GSTR3B fORM 5th table Can u please clarify
5. Values of exempt, nil-rated and non-GST inward supplies
Our monthly tea expenses is around Rs.700-1000 from unregistered person and we pay it by cheque. So do i have to show this amount in 5th table i.e. 1.From a supplier under composition scheme, Exempt and Nil rated supply?.
Also payment of electricity is done through NEFT. Do this amount i have to show under 2.Non gst supplly?
RAJA P M
("Do the Right Thing...!!!")
(128085 Points)
Replied 18 August 2017
@ Mahesh Jain.,
You don't want show above said expenses in GSTR 3B and anywhere except Income Tax and GSt Audit
sumith raja
(Student CA Final )
(41 Points)
Replied 20 August 2017
sumith raja
(Student CA Final )
(41 Points)
Replied 20 August 2017
Srinivasan Chokkanathan
(199 Points)
Replied 20 August 2017
RAJA P M
("Do the Right Thing...!!!")
(128085 Points)
Replied 20 August 2017
Originally posted by : Srinivasan Chokkanathan | ||
RCM to be paid by cash and could be adjusted as ITC in July itself. |
If you paid on July (01/07 to 31/07) then you ll be adjusted on return date. If you paid after July don't adjust it for July'ss returns...
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)