Reintroduction of RCM on URD purchases for composite dealers

This topic contains 4 replies, has 2 voices, and was last updated by  prasanna 5 months ago.

Viewing 5 posts - 1 through 5 (of 5 total)
  • Robins George
    Moderator

    What is your opinion on the reintroduction of Reverse Charge Mechanism on URD purchases for composite dealers ?

    CA RK MISHRA

    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 government

    NAWAL KISHOR YADAV

    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

    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

    RCM has to be reintroduced even for composition persons, this will create discipline in business and timely accounting.

Viewing 5 posts - 1 through 5 (of 5 total)
Reply To: Reintroduction of RCM on URD purchases for composite dealers
Your information:





<a href="" title="" rel="" target=""> <blockquote cite=""> <code> <pre> <em> <strong> <del datetime=""> <ul> <ol start=""> <li> <img src="" border="" alt="" height="" width="">