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TMI BlogRCM on Rent for Composite DealerX X X X Extracts X X X X X X X X Extracts X X X X ..... We have Clients who are composite dealers, hence cannot claim Input Tax Credit. With the RCM on Rent rule being incorporated, Should we still pay this (RCM on rent) without having any chance of adjust ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment against outward tax liability payment. If we pay this RCM payment, is there any chance of recovery or do we have an exemption for Composite dealers from paying RCM on rent - Reply By Sadanand Bul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bule - The Reply = Dear querist The definition of Input tax under Section 2[62] [b], reproduced below, also includes tax payable under RCM. (62) input tax in relation to a registered person, means the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... central tax, State tax, integrated tax or Union territory tax charged on any supply of goods or services or both made to him and includes (a) XXXX (b) the tax payable under the provisions of sub-sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions (3) and (4) of section 9; In view of such inclusive definition, the composition dealers opting to pay tax under Section 10 are not entitled either to recover it or exempt from paying rent under R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CM. In fact, rent paid under RCM becomes the cost of establishment.. - RCM on Rent for Composite Dealer - Query Started By: - Praveen VR Dated:- 25-11-2024 Last Replied Date:- 25-11-2024 Goods and S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ervices Tax - GST - Got 1 Reply - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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