1. When is RCM under GST applicable? Under GST, there are three types of reverse charge scenarios, which are: i. Nature of Supply/Nature of Supplier The reverse charge mechanism is applicable upon the nature of the given goods/services as notified by CBIC which will be covered under RCM....
For paying GST under RCM basis, you need to prepare a "SELF INVOICE" as provided under Section 31(3) clause (f) of the CGST Act 2017 on the date of receipt of goods or services and also you need to issue a Payment Voucher to the Supplier acknowledging the payment. Accordingly you ...
Bhavika Kothari (CA) (1258 Points) Replied 19 July 2021 Reverse Charge Mechanism (RCM) on Facebook Advertisement Service is applicable since inception of GSTLeave a reply Your are not logged in . Please login to post replies Click here to Login / Register ...
auction sale of details as per vehicle information proforma gst = 18 the h 1 bidder will have to pay applicable gst amount to concerned gst authorities under reverse charge mechanism (rcm). quantity : 1 lot lmv mahindra - kl 01 h 2968 Download Tender Document / BOQ You May Also Check ...
the Company, is liable to discharge the applicable GST on it. Now, it is amply clear that in case of directors the part of remuneration accounted for as salaries in the books of accounts and TDS deducted under Section 192, GST is not applicable therefore no liability under RCM....
01 December 2020 I have paid GST under RCM for supply received. In GSTR 3B i have claimed the amount paid under RCM as input and it is showing in my credit ledger. Now, the supplier has cancelled the deal and also uploaded a credit note which is showing in my GSTR 2A. If I rever...
The TOS provision of 60 days for payment to vendor/61st day if unpaid would not be applicable here. ITC on the GST paid under reverse charge would be eligible in the same month. In the instance that, the Invoice value for the quarter is lesser than RCM paid based on 2 months provisi...