There is chart for rate of Gst on expenses debitted to Profit and Loss A/c. will this apply if those expenses are from unresgistered person as supllies from unregistered are exempted and only 3 supply are notified in reality sector.??
Please Clarify.
Thanks in advance
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Supply from Unregistered person
Replies (4)
No, that chart not apply if those Expenses are from unregistered dealer.
As there is No RCM on Purchase from unregistered dealer as section 9 (4) of CGST Act, 2017 already scrapped for all except for promoter/developers for Specified Goods.
As there is No RCM on Purchase from unregistered dealer as section 9 (4) of CGST Act, 2017 already scrapped for all except for promoter/developers for Specified Goods.
ThankYou for clarification
Most welcome.......
As per GST law RCM does apply in such cases. But currently this practice has been deferred. So currently you will not have to debit the GST amount on expenses where supplier is unregistered
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