This topic contains 4 replies, has 2 voices, and was last updated by prasanna 5 months ago.
CA RK MISHRA
February 8, 2018 at 9:20 am
In my opinion there must be reverse charge on purchase from URD by Composite Dealers. Because if this not happen there will be lacuna in this process and it may not be beneficial in the interest on revenue of governmentNAWAL KISHOR YADAV
February 8, 2018 at 9:21 am
RCM shall not be applicable on URD purchases under section 9(4) for composition dealers registered under section 10 w.e.f 13 oct. 2017.Rajgopal
February 23, 2018 at 6:31 am
The whole accounting for reverse charge is painful. If capturing transaction is the intention, the Income Tax Act is the right one to use. Govt can bring in a law that all dealers have to file whatever details of payments required every quarter or six months or annually. Information is what is required and it should be obtained with ease.prasanna
March 15, 2018 at 6:53 am
RCM has to be reintroduced even for composition persons, this will create discipline in business and timely accounting.