TaxTMI 
TaxTMI 
RCM ON URD PURCHASE
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....CM ON URD PURCHASE<br> Query (Issue) Started By: - SURYAKANT MITHBAVKAR Dated:- 1-8-2017 Last Reply Date:- 12-8-2017 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>We have to pay GST on URD purchased during the month of July-17 through petty cash expenses. The URD purchased debited in different account in our books like as Stationery,Travelling Expenses (Lodging & boarding), Repairs & M....
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....ainteinance, Labour Welfare, etc. My query is that can we segregate all expenses as per different HSN Code wise which is too difficult or we have to mention our final product HSN Code for all. Reply By Vamsi Krishna: The Reply: It is actually tough to get HSN for all the petty exp. Maintain an excel sheet with HSN codes every month. Generally same exp will get repeated in the course of busines....
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....s. First 2-3 months you may have to update all HSN codes. And thereafter you can find in your excel. You can prepare one consolidated Invoice for all such exp with tax rate for each HSN/rate. Reply By KASTURI SETHI: The Reply: Dear Querist, There is relaxation regarding mentioning HSN code. Since you deal with with Central Excise, you must be aware of. HSN is meant for identification of goods....
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.... supplied. If rate of GST is correct and GST has been paid correctly, there is nothing to worry. HSN of major products would suffice. It being a new levy, Govt. has given time to the assessee to learn the new procedures. No action is likely to be taken just for non-mention of HSN codes Reply By KIRTIKUMAR PUROHIT: The Reply: Even in Supply; there is no need to indicate HSN of goods if Register ....
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....person Turnover less than 1.5 Crore, Only Description of goods is properly mentioned in Invoice, same like in petty Cash Expenses.<br> Discussion Forum - Knowledge Sharing ....