rcm gst payment

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CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 15 August 2017

4efer Clause 3 of Sec 12

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CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 15 August 2017

In case of supplies in respect of which tax is paid or liable to be paid on reverse
charge basis, the time of supply shall be the earliest of the following dates, namely:—
(a) the date of the receipt of goods; or
(b) the date of payment as entered in the books of account of the recipient or the
date on which the payment is debited in his bank account, whichever is earlier; or
(c) the date immediately following thirty days from the date of issue of invoice or
any other document, by whatever name called, in lieu thereof by the supplier:
Provided that where it is not possible to determine the time of supply under
clause (a) or clause (b) or clause (c), the time of supply shall be the date of entry in the
books of account of the recipient of supply.
(4) In case of supply of vouchers by a supplier, the time of supply shall be—
(a) the date of issue of voucher, if the supply is identifiable at that point; or
(b) the date of redemption of voucher, in all other cases.
(5) Where it is not possible to determine the time of supply under the provisions of
sub-section (2) or sub-section (3) or sub-section (4), the time of supply shall––
(a) in a case where a periodical return has to be filed, be the date on which such
return is to be filed; or
(b) in any other case, be the date on which the tax is paid.
(6) The time of supply to the extent it relates to an addition in the value of supply by
way of interest, late fee or penalty for delayed payment of any consideration shall be the date
on which the supplier receives such addition in value.

Ranjeet Singh (190 Points)
Replied 25 August 2017

we will pay tax on a purchase under RCM of July month in August can I get ITC in July's 3b

Ranjeet Singh (190 Points)
Replied 25 August 2017

we will pay tax on a purchase under RCM of July month in August can I get ITC in July's 3b

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 25 August 2017

Yes you can claim in July

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Ranjeet Singh (190 Points)
Replied 08 September 2017

i m a tool and die manufacturer I am purchase a vmv machine. Am I eligible for ITC on this purchase

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 08 September 2017

Yes. You can take ITC for the Purchase of VMC machine...

Ranjeet Singh (190 Points)
Replied 08 September 2017

plant & machineries r expect

Ranjeet Singh (190 Points)
Replied 08 September 2017

I think plant & machineries r exception

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 09 September 2017

You can claim.....

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Ranjeet Singh (190 Points)
Replied 10 September 2017

how GTA file GSTR1 of July if his outward supply is covered under RCM

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 10 September 2017

Select RCM as Yes in GSTR-1.

Ranjeet Singh (190 Points)
Replied 10 September 2017

is rate of tax of the outward supply mandatory to mention

Narasimha Hegde (Service) (61 Points)
Replied 10 September 2017

Is Examiners Honorarium is liable to GST 2017? If so, how the registration process will take place. If GST is applicable, Is 194J TDS is applicable or not? Anybody requested to explain on this forum to enable members to have better compliance.