However, with the introduction of the new provisions, the scope of section 9 (4) of the CGST Act, 2017 has been restricted, as given belowPrior to the CGST Act, 2018, purchases up to Rs. 5,000 per day from an unregistered supplier were free from any GST. On the other hand, for ...
Reports suggest that one of the amendments could introduce provisions for bringing any transactions under RCM. This could first be introduced for the composition scheme. The GST Council had however postponed tax liabilities under RCM till June 30. Presently unregistered suppliers are not liable to pa...
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 ...
indian client has to pay GST under RCM. In addition to it, Indian client would have to also issue an invoice to client in zambia, myanmar etc. It can also be considered as export of services and Taxability on export of services according section 16 of IGST Act 1 Like ...
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 ...