When is RCM under GST applicable? Registration for RCM Time of Supply for Reverse charge Mechanism (RCM) 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 / ...
09/2024-Central Tax (Rate), dated October 8, 2024. This notification mandates that the service of renting commercial properties by unregistered persons to registered persons will now fall under the Reverse Charge Mechanism (RCM). The new provisions will ...
Dear Expert I have a question about RCM on Import Services OurSingapore client Sub Client provide services to Zambia Myanmar Tanzania and bill is raised for invoicing these services to India My question is we are liable to pay RCM on import services They
Unlike general norms, under RCM the receiver of goods or service has a tax liability and not the supplier. The tax is levied a registered dealer if he buys goods from an unregistered dealer. The receiver of the good iseligible for input tax credit, while the unregistered dealer is not. Re...
On 30th June 2017 the governor of the National Capital Territory of Delhi, on the guidance of the officials revised the information in the Department of Finance (Revenue-1), No.13/2017- State Tax (Rate). Under the CGST the notice concerns the kinds of solutions where the tax is payable ...
However, there are some notified services under GST, on supply of such services GST is applicable under reverse charge mechanism i.e. the purchasers are required to pay GST tax to the Government.Purchase process for unregistered vendor has been explained in this document....
However, there are some notified services under GST, on supply of such services GST is applicable under reverse charge mechanism i.e. the purchasers are required to pay GST tax to the Government.Purchase process for unregistered vendor has been explained in this document....
Select Item Code for goods, G/L Account for Service purchase, Fixed Asset for Fixed Asset purchase and Charge (Item) for Item Charge on Purchase Credit Memo line. GST Group Code, HSN/SAC Code and GST Credit value should be selected as Availment if the tax input credit ...
Under GST regime, temporary transfer or permitting the use or enjoyment of intellectual property right constitute supply of service as per Schedule II r/w Section 7(1A) of CGST Act. Following are the rates applicable for Intellectual Property Right based on HSN:- HSN Rate of tax Description...
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 ...