This also helps simplify the application of tax liability under RC for foreign goods and services. The tax for this category i.e. for the import of service has to be paid in cash or bank. The ITC from GST can be utilized within the same month, and to the extent of the IGST paid up...
Payment of Tax on a reverse charge Input tax credit (ITC) Self-Invoicing What if an Input Service Distributor receives supplies liable to Reverse Charge? What if the receiver of goods / services who is required to pay tax under RCM himself an Unregistered Dealer?Reverse...
4. If under QRMP Scheme do i have to pay rcm and normal tax in 2 different chaalans. Also can i claim the ITC in the same month as it will not refelct in GSTR 2B 5. Self invoice where we have to upload in GST Returns? 6. For Import of Services Which GST Returns we...
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 discharged by Service provider for RCM ...
MR- X1 multi- functional good selling end mill sharpener with long service life $306.00 - $387.00 Min. order: 1 set MR-F4 Multi-function Drills And Mills Grinding Machine $600.00 - $795.00 Min. order: 1 set MR- U2 Factory Direct Selling high precision durable tool grinder /universal tool...
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.A buyer may have to return the goods or issue credit note due to various reasons like damag...
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 ...