Nisha Yadav (Accounts exe) (455 Points)
29 June 2017As per notification "Provided that the said exemption shall not be applicable where the aggregate value of such supplies of goods or service or both received by a registered person from any or all the suppliers, who is or are not registered, exceeds five thousand rupees in a day."
So my query is
What if we purchase from 2 unregistered dealer for Rs 5000 and Rs 1000 in a day so sould i pay RCM on Rs 1000 or Rs 6000.
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 29 June 2017
You have to see the aggregate in a day, so GST has to be paid on 6000/-
Dev Kumar
(Accounts Manager)
(102 Points)
Replied 29 June 2017
What if purchase from unregistered dealer per day is RS 3500, amount crosses one lac a month?
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 29 June 2017
No issues. No need to pay tax.
Jayesh Doshi
(Self)
(177 Points)
Replied 30 June 2017
jasveer
(sr acountant)
(48 Points)
Replied 30 June 2017
Yeah
you have to pay GST On 6000/- there is no way to exclude Rs. 5000/- From Entire purchase in a single day once it cross the exepmtion limit.
if you have doubt, you can also refer Gift tax where tax has to be paid once it is exceed the limit of Rs. 50000/-
Karthik Kumar N
(Asst Manager Finance & Accounts)
(81 Points)
Replied 02 July 2017
Ronak
(accountant)
(27 Points)
Replied 04 July 2017
Do this 5000/- figure consist of daily payment for items exempt under GST also. For Example I make following two payments in a day
1. Rs 4800/- for printer purchased from unregistered dealer
2. Rs 1200/- for milk purchase for office use from unregistered dealer.
Now pls tell me i will be covered under RCM or not?????
Thanks in advance
Lakshmikant rai
(student)
(95 Points)
Replied 05 July 2017
Arun Jadhav
(Sr. Accountant)
(6 Points)
Replied 05 July 2017
We are working as works contactor..
When our workers or staff going to work on site (not Local Work) in such case we give Rs. 450 as food expenses for a day and Travelling expenses as at actual, both expenses consider as URD in that case the such expenses will get full exemption under RCM? or will GST applicable under RCM
jasveer
(sr acountant)
(48 Points)
Replied 06 July 2017
RCM not applicable on Employee and Employer Relationship
CAclubindia
