In the instance that, the Invoice value for the quarter is lesser than RCM paid based on 2 months provisions, there would be no requirement to reverse RCM paid or ITC claimed, as it has a NIL revenue impact. Recent update in Section 13 of IGST Act 2018 (Amendment Act w.e.f. 1st ...
1. **RCM Liability:** When certain services are availed from an unregistered supplier or specific goods/services are procured as per GST law, the liability to pay GST shifts from the supplier to the recipient. This is known as Reverse Charge Mechanism (RCM). ...
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...