The supplier is liable to collect tax from the recipient and pay the total tax amount to the Government. But in some cases, the Recipient of Goods/Services is liable to pay GST instead of the supplier. This is in essence Reverse Charge.1. When is RCM under GST applicable?
process in which the purchaser is a registered individual and purchases goods from an unregistered supplier; in such a scenario, the purchaser pays the supplier only the price of the goods without including the GST amount; instead, he makes this payment to the government on behalf of the ...
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...
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 ...
GST is about to get a year old. And post discussions and reviews, the Central Government is set to introduce a total of 35 amendments. While the new amendments in addition to clearing the ambiguities will further refine the GST provisions. The key change
Any purchases from unregistered vendors do not attract GST. However, there are some notified services under GST, on supply of such services GST is applicable under reverse charge i.e. the purchasers are required to pay GST to the Government....
01 December 2020 The supplier is Government of India in this case. The recipient of service is a private enterprise. The private enterprise paid GST on RCM on the service received from Government of India. Getting the government to change their credit note is a herculean task and I also beli...