Ad Free CAclubindia and Daily Updates on your Mobile. Subscribe Now!

reverse mechanism

14 April 2018

currently reverse mechanism on rent is suspended, but I want to know what will be impact as I am in composition scheme how can I pay in get under reverse mechanism and how can I claim again

Reply
Follow
Share

3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177076 Points)
Replied 14 April 2018

Once RCM applicable (may be after 01.07.2018), you under composition scheme will be liable to pay GST under RCM, for all your inward supplies from URD........ but unfortunately, you cannot claim it, because output GST not chargeable by CMP dealer.......... It means it will be absorbed by you (including output GST)

1 Like