Under the RCM, the liability to pay Goods and Services Tax (GST) shifts from the supplier to the recipient of the goods or services. This amendment to Notification No. 13/2017-Central Tax (Rate) aims to address the issue of tax evasion in cases ...
Advance paid for reverse charge supplies is also liable to procure GST. The person making advance payment has to pay tax on a reverse charge basis.5. Can you get Input tax credit (ITC) on transactions under RCM?Under the reverse charge mechanism, the recipient of goods cannot claim ITC as...
18 July 2020VIPUL JAIN 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 se...
October 27, 2020Arpit KulshresthaGST India, Latest & Trending GST News 3 Minutes Read Delhi government has stated that the recent amendment in the Reverse Charge Mechanism to give motor vehicles on rent. On 30th June 2017 the governor of the National Capital Territory of Delhi, on the guidance...
tender for 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
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 ...
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...
At the long term, the annual temperature might be 2.06 ◦C (IQR = 0.9 ◦C) higher than the RP one (RCM ensemble mean) under the RCP4.5 and 4.17 ◦C (IQR = 1.4 ◦C) for the RCP8.5. At both the monthly and annual scale, the variability between the RCMs is higher than the...