Dear Experts,
If we purchase from UNR person, received a bill for ₹ 4000, same day there was no others unregistered supplies made on that particular day. and another day he raised bill for 4500, same day no other transaction was made. like this he raised bill overal in a month amounts to ₹ 35,000/-. Does this transaction attracts RCM on consolidated basis on vendor wise on month end/week end basis ?
Clarification on GST Reverse Charge Mechanism: No GST for daily transactions under 5,000; liability still on receiver. An individual inquired about the applicability of Reverse Charge Mechanism (RCM) under the Goods and Services Tax (GST) for multiple small transactions with an unregistered vendor, totaling 35,000 in a month. The responses clarified that if each transaction is less than 5,000 per day, GST is not applicable. However, the liability of GST falls on the receiver, and a payment voucher should be prepared even if the transactions are out of the tax net. (AI Summary)
TaxTMI 
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