Should we show that my weekly income more than 5000 and pay gst under reverse charges?

We purchase small items from Rs 100 to 4000 per day from urd. But payment done weekly which goes more than 5000. Should we show that and pay gst under reverse charges?

Asked on August 20, 2017 in Real Estate.
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3 Answer(s)

You must submit the debit and credit notes and come under rcm.

Answered on August 20, 2017.
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According to me not all the expenses are. covered under RCM.only Specific services or goods as mentioned in the notification are taxable under rcm.

Answered on August 21, 2017.
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Purchases up to 5000/- per day from unregistered dealers are exempted from GST. No need to follow GST. Weekly payment of more than 5000/- does not alter the position.

Answered on August 22, 2017.
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Your Answer

Gen GST