Reverse Charge Mechanism refers to the situation where the recipient of the provision of goods or services bears the tax burden rather than the supplier of those goods or services.Reverse Charge MechanismGST is normally charged by the Supplier of Goods/Services. The supplier is liable to collect ...
The Ministry of Finance, after further assessment, would present it before the GST council on January 18. As per the report, the Committee has recommended deferment of GST provisions like tax deducted at source (TDS) and tax collected at source (TCS) as well as the reverse charge mechanism...
In your case services are provided out side India ,I mean say non taxable territory to another non taxable territory and bill to India . Regarding Goods there is provision in Schedule III {7} of the IGST act 2017 , I am doubt regarding service provision . Considering the above 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 changes could be in provisions for ...
We have received freight bill from un registered person at what percentage I have to pay GST As it is not reflecting in GSTR 2A how can I claim ITC benefit on the same please clarify - GST
As per the provisions of GST Act Section 9(3) in case of notified goods and services, the person responsible for payment of tax is the recipient. The recipient is not paying tax on behalf of the supplier. Unlike Service tax where relief was provided where service tax liability was discharg...
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 ...