P&L Items GST rate

P&L Items GST rate


In the GST environment, we all have some confusion about RCM and other Provisions. here is some clarification for GST RCM Provisions whi...

In the GST environment, we all have some confusion about RCM and other Provisions.

here is some clarification for GST RCM Provisions which will help to decide on which p&L ( Profit And loss Account ) item GST RCM ( Reverse Charge Mechanism )is applicable and is there any input available or not and do we need to create an invoice for that.

Kindly note that as per the council meeting it was decided that if You purchased an item or taken services from an Unregistered dealer ( URD) in a day in excess of Rs 5000/- then RCM will be applicable. Please note per day Rs 5000/- all expenses.

AND this 5000/- Rs limit is not applicable on freight Charges for freight charges limit is Rs 750/- per Lorry Receipt. If any LR in excess of Rs 750/- then you have to pay GST on that LR under RCM @ 5%.


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Saral Tax India | सरल टैक्स इंडिया: P&L Items GST rate
P&L Items GST rate
Saral Tax India | सरल टैक्स इंडिया
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