Under GST, there are three types of reverse charge scenarios, which are: i. Nature of Supply/Nature of Supplier The 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 ...
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 2020 Anoop Gupta As per the provisions of GST Act Section 9(3) in case of notified goods and services, the person re...
indian client has to pay GST under RCM. In addition to it, Indian client would have to also issue an invoice to client in zambia, myanmar etc. It can also be considered as export of services and Taxability on export of services according section 16 of IGST Act 1 Like ...
How to check GST Paid by Supplier in RCM under GST? Accounting Treatment of Reverse Charge Mechanism Key points dealing with RCM Who will issue the RCM invoice? RCM on freight limit 750 How are services by e-commerce operators treated under RCM? GST RCM on foreign expenses RCM under GST Tr...
All these steps are under the income tax act right now providing a measure to check on tax evasion. The same provision may be applicable in the GST reverse charge mechanism stating that an additional measurement will ensure the timely payment of taxes from the parties. The provision is known ...
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, Article 269A mandates that supply of goods or services or both in the course of import into the territory of India shall be deemed to be supply of goods, or of service or both in the course of inter-state trade or commerce. Import of service As per Section 2(11) ...
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As per Section 2(98) of the CGST Act only the recipient can be made liable to pay tax under RCM and the RCM cannot be disintegrated from the recipient of supply. There cannot be 2 recipients of the same service i.e., the foreign exporter and the Respondent. The taxable event for levy...