1. When is RCM under GST applicable?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...
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...
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...
BOQ 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...
Under the RCM, the liability to pay Goods and Services Tax (GST) shifts from the supplier to the recipient of the goods or services. This amendment to Notification No. 13/2017-Central Tax (Rate) aims to address the issue of tax evasion in cases ...
01 December 2020 I have paid GST under RCM for supply received. In GSTR 3B i have claimed the amount paid under RCM as input and it is showing in my credit ledger. Now, the supplier has cancelled the deal and also uploaded a credit note which is showing in my GSTR 2A. If I rever...