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unregd purchase below 5000/- a day

02 September 2017

How to pass entries in tally as these will not attract reverce charges. On preparing purchase invoice tax laibility appears how to decresse tax laibility.

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7 Replies

Rakesh Bandal (Self Employed and Agriculture) (1349 Points)
Replied 02 September 2017

can you please ask your query in detail

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nayeem ( c a ) (2 Points)
Replied 02 September 2017

transport charges revachable applica uder 5000

Kaushik Deepak (KD) (Officer Accountant) (1136 Points)
Replied 02 September 2017

Originally posted by : nayeem
	transport charges revachable applica uder 5000

GTA covered under RCM LIST (18 Services), NOT due to Purchases upto Rs. 5,000 per day from unregistered suppliers. except goods, where consideration charged for the transportation of goods on a consignment transported in a single carriage is less than Rs. 1,500 goods, where consideration charged for transportation of all such goods for a single consignee does not exceed Rs. 750.

Kaushik Deepak (KD) (Officer Accountant) (1136 Points)
Replied 02 September 2017

Originally posted by : Minalal Bhansali
	How to pass entries in tally as these will not attract reverce charges. On preparing purchase invoice tax laibility appears how to decresse tax laibility.

CAN YOU Explain in details your query

Minalal Bhansali (72 Points)
Replied 03 September 2017

Unregd purchase below 5000/-
when we prepare a purchase invoice for unregd purchase below 5000/- the invoice didn't reflect it but in rcm it is calculated by system and a liability is reflected in gstr 2 but in actual it is below permissable limit of rs 5000 a day which can not require to rcm. how to decresse in gstr 2 generated by erp9 Tally

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Minalal Bhansali (72 Points)
Replied 03 September 2017

Agreeget amount of unregd permissable including service and goods above is 5000 per day for payment of rcm but when it is below 5000 why the Tally reflected rcm liability and is it payable

Minalal Bhansali (72 Points)
Replied 03 September 2017

Agreeget amount of unregd permissable including service and goods above is 5000 per day for payment of rcm but when it is below 5000 why the Tally reflected rcm liability and is it payable