Hello,
1.) Suppose a dealer registered under composition scheme and pay rent to individual of the shop. Is the dealer need to deduct GST under reverse charge machenism and if yes then will the dealer able to take the credit of the same?
2.) If dealer purchases from a URD will he also required to deduct GST under reverse charge and if yes then also is he able to take credit of the same? As normal GST credit is not available to the dealer....??
Thank You
| Originally posted by : sagar_mashru | ||
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where is d answer for 1st Que ?? |  |
I am looking for the answer... Till i found that if tax is deducted under reverse charge under normal rate no ITC will be available to composition scheme. I am looking for more clarification.
Swati......Reverse charge is not convered under composition scheme. Reverse charge shall be paid by only registered dealer only.
| Originally posted by : Sandeep Upadhyay | ||
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@ swati1Yes liable to pay GST under RCM, yes dealer take credit 2 yes, yes | |
Can you please share any official words from act. Becuase yesterday somewhere i was reading that RCM paid by composition dealer can't take credit of the same.
Person registered under Composition scheme has to discharge liability under RCM but he is not eligible any kind of ITC.
CAclubindia
