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...
Schedule III of the CGST Act, and is therefore, taxable and covered under reverse charge mechanism in terms of Notification No. 13/2017 – Central Tax (Rate) dated 28.06.2017(as amended), the recipient of the said services i.e. the Company, is liable to discharge the applicable GST on ...
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...
RCM on Labor Charges Under GST RCM applies on Labor Charges as depicted in the following table: No. Type of Expense Tax Rate Is the registered supplier eligible to impose tax? Reverse charge in case of unregistered supply ITC eligibility 1 Labor Welfare Contribution to Government 0% No No ...
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...
This article has been prepared by Varsha Vasante Gowda (Audit Executive) and vetted by CA Akshay Hiregange. The author could be reached at varshav@hiregange.com. Published by Varsha Vasante Gowda (Audit Executive) CategoryGSTReport Other Articles ...
At the long term, the annual temperature might be 2.06 ◦C (IQR = 0.9 ◦C) higher than the RP one (RCM ensemble mean) under the RCP4.5 and 4.17 ◦C (IQR = 1.4 ◦C) for the RCP8.5. At both the monthly and annual scale, the variability between the RCMs is higher than the...