sir please guide me are RCM applicable on sundry debtors shows in balance sheet?
because department raise a notice u/s 73 and making a demand on sundry debtors.
Dear Azhar Ansari
See, I will give you an example, You raise the bill of Rs 118000/- ( including GST 18000/- @ 18%) on Debtors or your Client for taxable supply. now Debtors will pay you 118000/- , after that you keep 100000/- and GST 18000 /- will deposit in Govt account, so I think department may have been raised query of Rs 18000/- GST may not be deposited in Government account .is this the Case ?. please reply .
CAclubindia
