Rcm exemption for rs 5000/-

Page no : 3

Ashok (Article Assistant) (38 Points)
Replied 17 August 2017

Originally posted by : Karthik Kumar N
	Can we take ITC on tax paid under RCM

Yes U can take ITC paid on RCM,while filing the return on following month.

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Ashok (Article Assistant) (38 Points)
Replied 17 August 2017

Originally posted by : Karthik Kumar N
	Can we take ITC on tax paid under RCM

Yes U can take ITC paid on RCM,while filing the return on following month.

Shreyansh Golechha (2 Points)
Replied 19 August 2017

Petrol/diesel are exempted under gst, so will its expense be counted for daily limit.

Ashok (Article Assistant) (38 Points)
Replied 19 August 2017

Originally posted by : Shreyansh Golechha
	Petrol/diesel are exempted under gst, so will its expense be counted for daily limit.

There is no GST on those expenses.So,no need to add in calculating daily expense limit(that will not come under reverse charge,because GST itself is not there).You have to calculate the limit on expenses which will be liable for GST.

shashikant Mishra (Accounts Manager) (86 Points)
Replied 22 August 2017

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.

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satya (Executive Excise) (1839 Points)
Replied 23 August 2017

How to take ITC of RCM paid, whether it is manually or Automatic flow in gst portal?

Gopinath R (2 Points)
Replied 12 September 2017

Sir, is This limit is applicable to textile manufacturing job work also (Goods owned by principle )

Kannan (Individual) (26 Points)
Replied 13 September 2017

Where to show (file) in GSTR 3B and GSTR 2 if URD purchases below 5000. Do we need to show details of URD purchases below 5000 anywhere?

shashikant Mishra (Accounts Manager) (86 Points)
Replied 14 September 2017

You can take ITC after paid of RCM liability on following month but you have to keep in mind Only CGST is exempt in RCM even SGST and IGST you have to paid even expenses is less than 5000.