2 GTA Services Goods Transport Agency (GTA) who has not paid integrated tax at the rate of 12% Any factory, society, cooperative society, registered person, body corporate, partnership firm, casual taxable person; located in the taxable territory 3 Legal Services by advocate An individual advocat...
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...
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...
Companies - Rate of TDS during the FY 2025-26 (Assessment Year 2026-27). Rebate under section 87A Incentives to International Financial Services Centre Extension of sunset dates for several tax concessions pertaining to IFSC Exemption on life insurance policy from IFSC Insurance offices ...
A business registered under GST purchases raw materials worth ₹10,000. The GST rate on raw materials is 18%. The company also purchases office supplies worth ₹20,000, subject to a GST rate of 18%. 1. ITC Calculation Raw Materials ITC: ₹10,000 * 18% = ₹1,800 ...
A: Understanding Shares vs. Debentures: Ownership, Risk, and Legal Differ... A: GST Rate on Used Vehicles to Rise from 12% to 18% in 2025, Affecting O... A: India Regulates Ads for Sugary Drinks, Snacks, Alcohol, and Tobacco to... ...
It may be agreed that the funding co-lender receives a specific percentage of the interest charged to the borrower, while any excess interest earned beyond this hurdle rate shall be retained by the OC. Since the OC is performing services in the co-lending arrangement, would this excess spread...
DISCLAIMER:This is strictly my personal opinion. The above discussion cannot be considered as our professional or legal advice. Users shall consider legal provisions or take advice from experts before taking action on it. Published by CA Amit Harkhani ...
Under RCM, a recipient of goods or services is eligible for an ITC only if those goods or services are used for business purposes. The tax paid under RCM can be subject to the GST compensation cess. Composition dealers should pay tax at the normal rate rather than the composition rate when...
Metal Scrap Reverse Charge Mechanism (RCM) introduced for metal scrap supplies by unregistered persons; 2% TDS applied on B2B metal scrap supplies by registered persons. RMPU Air Conditioning Machines RMPU air conditioning machines for railways classified under HSN 8415, attracting a 28% GST rate....