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reverse charge in gst

DINESH (ACCOUNTS MANAGER) (131 Points)

24 June 2017

Is RCM is applicable on purchase all goods from unregistered dealers or there is any list of goods like in services. Further it is applicable to all registered dealers

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177741 Points)
Replied 24 June 2017

All the goods with nil tax rate or exempted under GST will not be included under RCM, otherwise YES.................... Yes to all registered dealers........

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DINESH (ACCOUNTS MANAGER) (131 Points)
Replied 24 June 2017

Thanks sir

DINESH (ACCOUNTS MANAGER) (131 Points)
Replied 24 June 2017

Sir, it is in rule or act ??????

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177741 Points)
Replied 24 June 2017

Its interpretation of act.........

Actually, Nothing has been yet prescribed for reverse charge mechanism for goods under GST. It is expected that it will follow the same treatment as reverse charge mechanism for services. The list of goods on which reverse charges apply has not yet been issued by CBEC, except purchase by RD from URD.

For more detailed study refer a very good artcle by CA. Mithun Khatry

https://t axguru.in/goods-and-service-tax/reverse-charge-mechanism-gst.H T M L