Aggarwal K L (Buisness) (48 Points)
01 July 2017If a registered person buy or take service from an unregistered person, then registered person will have to pay gst under reverse charge mechanism.
but if a registered person buy or take service of Rs.5000/- from an or many unregistered person per day. then does he need to pay gst under rcm or not??
JOJY THOMAS
(CHARTERED ACCOUNTANT)
(295 Points)
Replied 01 July 2017
IF THE VALUE OF THE SERVICE IS LESS THAN 5000 HE NEED NOT PAY
Maheswara Swamy
(FInance Executive)
(40 Points)
Replied 01 July 2017
Yes, the limit is for a DAY. Whether it is from a single person or multiple persons. As long is the limit does not exceed Rs.5,000 per day, no need to pay tax under RCM.
CAclubindia
