Single rate for reverse charge??
Reverse charge on purchases from an unregistered person
The GST law requires a taxpayer to pay tax on a reverse charge basis on all purchases made from an unregistered supplier. This is an excellent move to protect an honest taxpayer. Not only are taxes on supply by registered as well as unregistered players equated, registered suppliers also get an additional advantage of input credit to make them more competitive. However, it does not mean that all purchases from unregistered persons can stop overnight. It could be a bouquet of flowers bought for a guest, stationery for urgent use, or a small repair work that may require purchases from unregistered vendors. Here, the real pain is complying with the law. The recipient taxpayer has to first find out the classification of the product or service and, secondly, find out the rate of tax and exemption if any, and then pay the tax making it quite complicated.
Can we not have a single heading for reverse charge with a single rate? Customs allows different machinery imported as a project to be classified under a single heading ‘9801’ and taxes it at a single lower rate. Can we not use a similar process in GST? This could ease much of the pain. more
The GST law requires a taxpayer to pay tax on a reverse charge basis on all purchases made from an unregistered supplier. This is an excellent move to protect an honest taxpayer. Not only are taxes on supply by registered as well as unregistered players equated, registered suppliers also get an additional advantage of input credit to make them more competitive. However, it does not mean that all purchases from unregistered persons can stop overnight. It could be a bouquet of flowers bought for a guest, stationery for urgent use, or a small repair work that may require purchases from unregistered vendors. Here, the real pain is complying with the law. The recipient taxpayer has to first find out the classification of the product or service and, secondly, find out the rate of tax and exemption if any, and then pay the tax making it quite complicated.
Can we not have a single heading for reverse charge with a single rate? Customs allows different machinery imported as a project to be classified under a single heading ‘9801’ and taxes it at a single lower rate. Can we not use a similar process in GST? This could ease much of the pain. more
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Oct 31
IN OTHER WORD GOVT IS ENCOURAGING BUYERS TO INDULGE BLACK MONEY ARE WE THAT HONEST OR SINCERE THAT BUYERS TO PAY EXTRA 12 TO 28% ON HIS PURCHASES, WHEN EVERY ONE LOOKS OUT MAX DISCOUNT. IS GOVT INDIRECTLY TELLING PEOPLE NOT TO BUY FROM UNREGISTERED OR BELOW 20LACS TURNOUT DEALERS IF THAT IS THE INTENTION WHY INCREASE THE EXEMPTION FROM 8 LACS TO 20LACS more
Sep 03
What is the status when supplier is registered and buyer is unregistered And both supplier and buyer are unregistered On 3 Sep 2017 08:17, "Mohit Jain" wrote: > more
Sep 03
This is a case of B2C transaction. Supplier will charge GST and since buyer is unregistered there is no question of ITC.
In case both are unregistered then GST provisions are not applicable in both the cases. more
In case both are unregistered then GST provisions are not applicable in both the cases. more
Sep 04
Supplier will have to charge GST on sale but it becomes purchase cost for buyer.being unregistered ,the later does not get Tax credit more
Sep 03
Dear Mohit Jain Please refer to the notification issued by government for such small cases. There is an exemption of Rs.5,000 per day for such small purchases from unregistered dealers. On such small purchases reverse charge is not payable. However, if the purchase exceeds Rs.5,000 then reverse charge is applicable on full amount. You can see the notification can take its benefit. - CA Ashok Malhotra - 9313888859 more
Sep 03
