dear all,
Consider the case.
A client purchases goods from unreg dealer keeping in mind the daily limit of Rs 5000 to save RCM charges. he purchases starting from 1feb to 6 feb. daily purchase is under Rs 5000. at the end of sixth day the total purchases is Rs 25000. now he pays the full amount on sixth day. what type of charges may levy on him in both of the case in case of cash payment or electronic payment as well. pls reply.
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PURCHASE FROM UNREGISTERED DEALER
Replies (3)
RCM is not apply whether your purchase or not for unregistered dealer because section 9(4) transaction deferred by cbic till department notification is applicability.
RCM payment is applicable only in case of specific supplies to the specific categories of persons.. example persons in the construction business has to pay under RCM for purchases from unregistered suppliers..
Thanks for confirmation to both of you.
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