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As per section 9 (4) of the CGST/SGST (UTGST) Act and section 5 (4) of the IGST Act, if a registered person purchases goods/services from an unregistered dealer (URD) then the registered taxpayer is liable to pay GST on reverse charge basis( only for certain goods/services). All th...
GST Rate Finder,GST Rate on Labour Charges,HSN Codes,SAC Codes,GST State Codes GST GST Software,GST Calculator,GST on Freight,GST on Ecommerce,GST Impact on TCS,GST Impact on TDS,GST Exempted Goods & Services,Reverse Charge Mechanism in GST,GST Declaration ...
There were a few additional updates related to the implementation of mandatory mentioning of HSN codes in GSTR-1 and withdrawal of extension on Export Freight, so we added these articles for your reference. Along with this, we also published 4 Key Aspects of ITC Computation and FAQs about Fil...
We have received freight bill from un registered person at what percentage I have to pay GST As it is not reflecting in GSTR 2A how can I claim ITC benefit on the same please clarify - GST
Reverse Charge under GST Under the reverse charge mechanism, the burden of the tax is the recipient of goods or services or both instead on the supplier. In other words, reverse charge means where the recipient of goods or service or both has to discharge the tax liability on his own accou...
Reverse charge mechanism deferred:The liability to pay tax on reverse charge has been deferred till June 30. Meanwhile, a group of ministers will look into the modalities of its implementations to ensure that no inconvenience is caused to the trade and industry. ...
Under the head labelled ―RC‖, supplies where the tax was paid on reverse charge basis by the recipient (i.e. the person for whom reconciliation statement has been prepared ) shall be declared with GSTR 9 file an annual return form with GSTR 9 P. Total amount to be paid as per ...
7. Which Educational services attract GST on Reverse Charge? There are few examples of Educational services that attract GST under the reverse charge mechanism (RCM). Educational institutions are liable to pay GST on RCM for these goods or services – Sponsorship revenues from non-corporate entiti...
Reverse Charge Mechanism Applies on goods as well as services Reverse charge applies to the importation of services andintangible properties Applicable Reverse charge applies to the supply of services Exempt Supplies Sale of land and completed buildings, certain healthcare and educational services, essenti...