Sir,
In partner ship firm, office rent paid to partner 6000/- per month in 17-18. We can't pay any tax under rcm.
Now Rcm applicable in this issue.
Pls. Clarify
9 Replies
RAJA P M
("Do the Right Thing...!!!")
(128096 Points)
Replied 13 September 2018
RCM applicable from 1st July 17 to September-17.
Amit Jain
(47 Points)
Replied 13 September 2018
The sec 9(4) of cgst,2017 has been suspended till mar 2019. So Rcm is not required to be paid.
And with regards to the Tax on rent..Your partner has to see whether his total turnover is exceeding the limit specified in the act. If yes,then he has to get registered and collect the tax on the rent from your firm and remit to the govt treasury...
Because in GST, firm and partner are different assessee. As Gst has got pan based registration.
Conclusion: the firm is not required to pay any tax for the time being.
And with regards to the Tax on rent..Your partner has to see whether his total turnover is exceeding the limit specified in the act. If yes,then he has to get registered and collect the tax on the rent from your firm and remit to the govt treasury...
Because in GST, firm and partner are different assessee. As Gst has got pan based registration.
Conclusion: the firm is not required to pay any tax for the time being.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 13 September 2018
The RCM on 9{4} was applicable from 1.7.2017 to 13/10/2017 & the Rent paid to partner is pertaing to this period , the RCM has to be deposit.
You can deposit now with interest .
You can deposit now with interest .
Anshuman Basu
(account -GST)
(1556 Points)
Replied 14 September 2018
sir what is the GST rate and interest calculation
RENGARAJ R.K
(ADVOCATE)
(7557 Points)
Replied 14 September 2018
GST rate for commercial rent is 18%.
Interest for delayed payment is 18%
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 14 September 2018
sorry...thought GTA.
ITS 18% BOTH
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