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Reverse charge gst

Antonz (Accounts) (38 Points)

19 October 2017

Dear Team,

I have GST registration number and purchased some FILES for our office purpose (Not for resale) and its from a unregistered supplier.

How i can enter my purchase ,do i have to pay REVERSE CHARGE for this ?

Please HELP ?

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5 Replies

Aditya Gaikwad (4 Points)
Replied 19 October 2017

If Invoice Amount paid is Rs. 5,000 or more then GST has to be paid by Receiver on Reverse Charge Basis at applicable Rate.

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Aditya Gaikwad (4 Points)
Replied 19 October 2017

If Invoice Amount paid is Rs. 5,000 or more then GST has to be paid by Receiver on Reverse Charge Basis at applicable Rate.

sachin parikh (125 Points)
Replied 19 October 2017

Yes correct but 5000 is daily limit

Antonz (Accounts) (38 Points)
Replied 19 October 2017

So i have to make purchase entry with the respective tax slab right ?

and also GST 22 council meeting Reverse charge is deferred till 31.03.2018.

The GST Council 22nd meeting released the press notification in which it stated that the reverse charge mechanism under sub-section (4) of section 9 of the CGST Act, 2017 and under sub-section (4) of section 5 of the IGST Act, 2017 shall be suspended till 31.03.2018 and will be reviewed by a committee of experts. This will benefit small businesses and substantially reduce compliance costs.

If so what will be the next step ..?