rcm not applicable upto 31/03/18 for all business limit?
12 Replies
Insightful thinking
(Manager)
(42 Points)
Replied 06 October 2017
Recommendation made by the GST Council in its 22nd Meeting held today under Chairmanship of the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley in the national capital.
Quote
6. The reverse charge mechanism under sub-section (4) of section 9 of the CGST Act, 2017 and under sub-section (4) of section 5 of the IGST Act, 2017 shall be suspended till 31.03.2018 and will be reviewed by a committee of experts. This will benefit small businesses and substantially reduce compliance costs.
Unquote
Above recommendation is under consideration.
Quote
6. The reverse charge mechanism under sub-section (4) of section 9 of the CGST Act, 2017 and under sub-section (4) of section 5 of the IGST Act, 2017 shall be suspended till 31.03.2018 and will be reviewed by a committee of experts. This will benefit small businesses and substantially reduce compliance costs.
Unquote
Above recommendation is under consideration.
RAVI KUMAR
(ACCOUNTANT)
(366 Points)
Replied 07 October 2017
I purchased from unregistered dealer and I already paid rcm amount what I do
sourabh shrivas
(38 Points)
Replied 07 October 2017
if u already paid through rcm the definitely u will get credit
sourabh shrivas
(38 Points)
Replied 07 October 2017
now there is no relevance of 5000 limit till 31.01.18
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 07 October 2017
rcm covered by 9(4) of cgst act removes
but rcm under section 9(3) is still applicable
but rcm under section 9(3) is still applicable
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 07 October 2017
Upto September RCM is applicable. From October 1st RCM cancelled above said way...
@ RAVI KUMAR,
No problem in case you paid the amount. You can adjust in your other liabilities. Bcoz, No more specifical payment heads in Challan....
@ RAVI KUMAR,
No problem in case you paid the amount. You can adjust in your other liabilities. Bcoz, No more specifical payment heads in Challan....
Tarun Shah
(264 Points)
Replied 07 October 2017
if my business is more than 1.5 crore then rcm applied continue or suspended for small business less than 1.5 crore?
sourabh shrivas
(38 Points)
Replied 07 October 2017
rcm 9(4) is completely removed till 31 march 2018 from 1 oct..2017
sourabh shrivas
(38 Points)
Replied 07 October 2017
rcm in 9(3)- still apply
example - on gta , on advocate services..
example - on gta , on advocate services..
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