iii. Reverse charge mechanism (RCM )on Services through an e-commerce operatorAn e-commerce operator that provides a platform to buyers and sellers of services is liable to pay GST on behalf of his suppliers.For example, Ola provides services of transportation of passengers through Radio Taxis....
In the case of RCM, the supplier must clearly state on the invoice that the transaction is done under reverse charge, similarly, it should also be mentioned on the refund and receipt voucher. Time of Supply For Goods/ Services In RCM In the reverse charge scenario, the time of supply of...
RCM Time of Supply Rule Changes Effective from November 1 Now, let us look at GST due dates for December 2024. Here is a comprehensive image of our December GST Due Dates Calendar or GST Compliance Calendar. It has all the GST Due dates for December 2024 so that you never miss the Dece...
Under the reverse charge mechanism (RCM), the recipient, instead of the supplier, issues the invoice and directly pays the GST to the government. A payment voucher should also issued along with this invoice. 5. Debit and Credit Notes Debit notes are issued in scenarios where the original invo...
Compliances for Services under RCM Every tax invoice must mention whether the tax is payable on reverse charge in accordance with section 31 of the CGST Act, 2017 and Rule 46 of the CGST Rules, 2017. Similarly, you also need to mention in the receipt voucher and refund voucher if the tax...
CGST修订Section 9(4) – Reverse charge in case of procurement from unregistered persons 在修订案之前,RCM每天有5000卢比的免税额度,因此会有这种情况——购买方发现销售方开出超出5000卢比的账单,可以要求连续几天开低于5000卢比的账单分摊金额,金额低的可以少缴一些税,修订后取消了这5000卢比额度。
Cancer Drugs GST on cancer drugs like Trastuzumab Deruxtecan, Osimertinib, and Durvalumab reduced from 12% to 5%. 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 Con...
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 ...
Our Gross Receipts are from 2 sources i e from sales of material and transportation services Now my question is 1 Whether I am liable to pay GST on outward transportation charges 2 Whether GST payable under RCM on inward Transportation Charges paid
15/2018-Central Tax (Rate) dated 26 July 2018 specifies that services supplied by individual Direct Selling Agents ("DSA") to banks/non-banking financial company ("NBFC") shall be taxed under the Reverse Charge Mechanism ("RCM"). • Pursuant to Notification No. 22/2018-Central Tax (Rate...