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?Under GST, there are three types of reverse charge scenarios, which are:...
GST @ 5% is required to be paid by the Recipient under Reverse Charge Mechanism (RCM) as per Section 9(3) of the CGST Act 2017 read with Notification No. 13/2017 - Central Tax ( Rate ), dated 28th June 2017, if you have received services from a GTA ( Goods Transport Agency ).For...
18 July 2020VIPUL JAIN 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 se...
October 27, 2020Arpit KulshresthaGST India, Latest & Trending GST News 3 Minutes Read Delhi government has stated that the recent amendment in the Reverse Charge Mechanism to give motor vehicles on rent. On 30th June 2017 the governor of the National Capital Territory of Delhi, on the guidance...
Amounts Tender Value Refer Document EMD Refer Document Document Cost Refer Document auction sale of details as per vehicle information proforma gst = 18 the h 1 bidder will have to pay applicable gst amount to concerned gst authorities under reverse charge mechanism (rcm). quantity : 1 lot lmv...
16 November 2020 GST had been paid on long term lease of land on RCM basis. Later the deal got cancelled. 75% of lease premium paid at the time of lease agreement has been refunded back. The Lessor has filed a credit note in GST return which is showing under Credit note section in ...