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RCM From Unregistered Purchase

Sajal Gupta (41 Points)

16 October 2024

Pls Can anyone confirm if RCM is applicable on purchase of Groundnut (1202), Tili(1207) from unregistered supplier???

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Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (5686 Points)
Replied 16 October 2024

RCM (Reverse Charge Mechanism) is a tax mechanism in India where the recipient of goods or services is liable to pay tax, instead of the supplier. For purchases from unregistered suppliers, RCM may apply. However, it's important to note that: - Groundnut (1202) and Tili (1207) are agricultural produce, and - As per the GST exemption notification, agricultural produce is exempt from GST. So, in this case, RCM may not be applicable on the purchase of Groundnut and Tili from an unregistered supplier, as these items are exempt from gst

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