hello experts
one builder is making building project and purchase goods and service from register and non register so as per rcm rule 80% minimum purchase from register so if builder purchase from composition registerd person its also include in 80 % or it will be consider as non register and builder is liable to pay @ 18% at end of year
Menu
Section 9(4)rcm on builder purchase from compositions
Replies (4)
Quick Summary
Composition dealers are registered under GST and hence GST at 18% is not required to be paid separately by treating it as procured from unregistered person.
Only procurements from unregistered persons should be considered for checking the cut-off of 20% procurements from unregistered persons.
No the Builder is not required to pay GST under Reverse Charge Mechanism ( RCM ) for the inputs procured from Composition Scheme Dealers.
Composition Scheme Dealers are Registered Person under GST by virtue of Section 10(1) of the CGST Act 2017.
Composition Scheme Dealers are Registered Person under GST by virtue of Section 10(1) of the CGST Act 2017.
Composition dealer is registered dealer in GST , hence inward supply from him consider as purchase from registered dealer.
Ok thank you very much for all great suggestions thanks a lot
Recent Topics :
- Tax Benefit on Second Property
- IPO application checklist: 18 rules that decide wh
- NSE IPO Price, GMP, Allotment Date and Listing
- Gst tax rate
- Cash deposited by customer
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
Related Topics :
CAclubindia
