Also, the due date for submitting GSTR 1 (Monthly) for Feb 2024 and GSTR 3B for Feb 2024 (Monthly) and GSTR-5A-OIDAR Services are the 11th and 20th of this month. Remember, compliance isn’t just a legal obligation; it’s a cornerstone of sustainable business operations in the devel...
Also, the due date for submitting GSTR 1 (Monthly) for Feb 2024 and GSTR 3B for Feb 2024 (Monthly) and GSTR-5A-OIDAR Services are the 11th and 20th of this month. Remember, compliance isn’t just a legal obligation; it’s a cornerstone of sustainable business operations in the devel...
Dear Sir Please clarify that, if the director has charged GST under forward charge for professional fees then also company is liable to pay GST on RCM basis ? 23 July 2020Anoop Gupta As per the provisions of GST Act Section 9(3) in case of notified goods and services, the person respon...
Input Tax Credit Under RCM If a registered person uses the goods or services supplied under the reverse charge mechanism in the course of doing business, GST paid on those items is anInput Tax Credit(ITC). When goods or services are received by the recipient, he may claim Input Tax Credit...
1 Hotel having restaurant business too pays 5 tax in cash in restaurant and room tariff is less than 7 5k now started charging 7500 per room per day after renovation As per recent notification 5 2025 and 8 2025 whether he can continue with the same and r
The person who receives the goods and services is the one who must pay GST under the RCM. But it is vital that the supplier of the goods and services mentions that the tax is payable under RCM. The recipient of the goods and services can claim ITC only if they are used for business ...
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in ...
This example of Input Tax Credit under GST illustrates how a business can reduce its tax liability to ₹1800 by utilising ITC. Note:This is a simplified example, and the actual ITC calculation may vary depending on specific factors such as the nature of the goods or services, the applicable...
Rcm on rent(15) Amnesty scheme, 2024(14) Punishment under section 132(13) Itc credit claime on import of machine(13) 3b filed nil for sept 17 to dec 17, itc disallowed by officer(13) Builder charge gst for sale without invoice(13) ...
Payment to cine or tv artists. liability under rcm(35) Penalty under section 127(29) Refund of interest on gst refund of pre-deposit(26) Gst on post supply discount(21) Charge sheet under section 132.(21) Section 74 of cgst(18) ...