GST update on FAQ on exemption limit for payment of tax under Reverse charge

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SOY P ITTY on 21 Apr, 2016 wrote:

YOU SIR IS A GREAT PERSON TO SERVE WITH OUT ANY SINGLE PENY. AND YOUR ADVICE RELATED EXCISE AND SERVICE TAX IS VERY VALUABLE FOR GRADUATE/POST GRADUA ...
hitesh on 03 Apr, 2016 wrote:

THANK U SIR 4 UR REPLY ON RATE OF INTEREST
hitesh on 20 Mar, 2016 wrote:

Thank u sir for ur reply regarding ssi exemption limit.
visuiyer on 09 Mar, 2016 wrote:

the budget analysis is really superb... and has highlighted all the aspects.. Hats off Sir ji..
hitesh on 06 Mar, 2016 wrote:

THANK U SIR FOR YOUR REPLY REGARDING THE TARIFFS I ASKED
hitesh on 29 Feb, 2016 wrote:

THANK U SIR FOR GUIDING ME IN THE QUERY OF REFUND.I M THANKFULL TO U.
Abhimanyu Singh on 08 Feb, 2016 wrote:

GST should be passed in this budget. all parties should help in public benefit. Opposition of the party in this regard is not good.
CA R P Vijay on 04 Jan, 2016 wrote:

Thanks and we also wish you and your family a very happy and prosperous new year.
Rahul Singhvi on 04 Jan, 2016 wrote:

Thank you for your lovely greetings ! Wishing you & your family a very happy & fun filled New Year
O V Srinivasan on 04 Jan, 2016 wrote:

We from Gokak Textiles limited wish you and your team a very happy and prosperous New Year 2016.

GST update on FAQ on exemption limit for payment of tax under Reverse charge

GST update on FAQ on exemption limit for payment of tax under Reverse charge

As per section 9 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the CGST Act), it shall be the liability of registered recipient of the goods or services to pay tax on reverse charge basis on procurement of goods or services from unregistered person and all other provisions of this Act shall apply to such recipient, as if he is the person liable for paying the tax in relation to the supply of such goods or services or both. In this respect, no exemption limit under any provision of the Act has been prescribed below which tax under reverse charge is not to be paid.
Although, recently some FAQs were issued on CBEC website wherein it was stated that an exemption of Rs.5000/- per day shall be allowed in respect of supplies received from unregistered person. For supplies above this amount, a monthly consolidated bill can be raised.

However, no notification or circular in respect of the same has been issues as yet. Interestingly, a disclaimer has been given at the end of the FAQs that the tweets received or the replies quoted are only for educational and guidance purposes and do not hold any legal validity.

Hence, we have to wait for further clarification.

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