Sir
My client is running wholesale medical business. In there purchase bill an amount is deduct in name of other adjustments.
Is this amount taxable as reverse charge or at what rate.
Please guide.
Thank you in advance
4 Replies
sunil kumar sharma
(jr accountant)
(708 Points)
Replied 08 August 2017
if that amount is discount then no rcm
RAJA P M
("Do the Right Thing...!!!")
(128096 Points)
Replied 08 August 2017
No RCM effect this transaction if the seller also ll be calculate tax that expense. And you ll be take ITC.
If not you ll be pay Tax under RCM. Bcoz, It's shown other adjustments then it's not converted to discount....
If not you ll be pay Tax under RCM. Bcoz, It's shown other adjustments then it's not converted to discount....
purva jain
(60 Points)
Replied 08 August 2017
it is in nature of discount but it is deducted after charging gst
RAJA P M
("Do the Right Thing...!!!")
(128096 Points)
Replied 08 August 2017
After charging GST then RCM not applicable
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