Under GST, there are three types of reverse charge scenarios, which are:i. Nature of Supply/Nature of SupplierThe reverse charge mechanism is applicable upon the nature of the given goods/services as notified by CBIC which will be covered under RCM. This scenario is covered by section 9 (3...
You need to be the querist orapproved CAclub expertto take part in this query . Click here to login now
As per S.No 6 of the said notification, a company or a body corporate located in the taxable territory is liable to pay GST on RCM basis on services received from its directors. Common understanding of GST applicability under RCM on Director's Remuneration: Services supplied by the director ...
One needs to pay the RCM directly to the government based on the usual tax rates. This is to be done through the form GSTR 3B. Also, they must provide Table 3.1 D of GSTR 3B for the purpose of paying the GST liable. Later on, through the form GSTR 3B and its table 4A, the ...
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 ...
Under GST regime, temporary transfer or permitting the use or enjoyment of intellectual property right constitute supply of service as per Schedule II r/w Section 7(1A) of CGST Act. Following are the rates applicable for Intellectual Property Right based on HSN:- HSN Rate of tax Description...
The future rates of the greenhouse gas emissions are still unclear and conditioned by many factors that, although the political efforts toward their reduction worldwide, suggest to explore multiple working hypothesis, as in the old concept of Chamberlin [32]. 3.4. Future Heat Waves We used the ...