The reverse charge mechanism is applicable upon the nature of the given goods/services as notified by CBIC which will be covered under RCM. This scenario is covered by section 9 (3) of the CGST/SGST (UTGST) Act and section 5 (3) of the IGST Act. ...
Good and Service Tax Act ('GST') was introduced in India from July 1, 2017 and is a single unified tax created by amalgamating provisions from erstwhile taxes like VAT, Service Tax, Excise etc. One of the legacy provisions which is included under GST from Service Tax is the concept of...
However, new amendments will pave for insertion of composition scheme under the RCM mechanism for the unregistered supplies Compensations Act Under GST The GST (Compensation to States) Act, 2017 will go through a few updates to ensure clarity on refund process for export goods Manufacturers. “The...
GST @ 5% is required to be paid by the Recipient under Reverse Charge Mechanism (RCM) as per Section 9(3) of the CGST Act 2017 read with Notification No. 13/2017 - Central Tax ( Rate ), dated 28th June 2017, if you have received services from a GTA ( Goods Transport Agency ).For...
Societies that are registered under the Societies Registration Act of 1860 or under other laws A co-operative society established under any law An individual registered with the GST An organization formed or established under any law, or under any other law Registered or unregistered partnership firms...
Under GST regime, temporary transfer or permitting the use or enjoyment of intellectual property right constitute supply of service as per Schedule II r/w Section 7(1A) of CGST Act. Following are the rates applicable for Intellectual Property Right based on HSN:- HSN Rate of tax Description...
indian client has to pay GST under RCM. In addition to it, Indian client would have to also issue an invoice to client in zambia, myanmar etc. It can also be considered as export of services and Taxability on export of services according section 16 of IGST Act 1 Like ...
The Government while exercising its rule-making power under the provisions of the CGST Act and IGST Act is bound by the recommendations of the GST Council. However, that does not mean that all the recommendations of the GST Council made by virtue of the power Article 279A (4) are binding...