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Reverse Charge Mechanism

RAJYA LAKSHMI NALAM (17 Points)

06 August 2017

Is reverse charge applicable on opening stock?

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5 Replies

RAMESH D MODI (Proprietor) (4869 Points)
Replied 06 August 2017

If purchased from unregistered applicable
otherwise not.

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Ahmed Ali (388 Points)
Replied 06 August 2017

Q. Suppose I purchased Rs. 10 lacs worth of goods from unregistered dealers in July 2017 month. I took my GST registration in August 2017 as my turnover exceeded Rs. 20 lacs in August 2017 only. Am I supposed to pay GST under reverse charge for the goods purchased prior to my registration?

sunil kumar sharma (jr accountant) (708 Points)
Replied 06 August 2017

reverse charge applicable on payment basic
if you was purchase from urd June and payment will issue august then rcm will applicable

Ahmed Ali (388 Points)
Replied 06 August 2017

Mr. Sunil kumar sharma,
I made payment to unregistered dealer in July(before registration).

Asif Ansari (Tax Consultant) (159 Points)
Replied 06 August 2017

i think rcm not applicable on opening stock

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