Reverse Charge Mechanism

GST on Royalty paid to State Government for availing mining rights

Goods and Services Tax - the business entities availing mining rights including its exploration and valuation shall be charged to GST at the rate of tax as applicable on supply of like goods being mined. For example, the supply of Red Boulder , Soft Boulder attracts 5% GST as specified under Chapter Heading 2516 of GST Tariff Act and thus the royalty on Red Bou...

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Reverse Charge on Services under GST

Goods and Services Tax - In the current article we will discuss about services On Which Goods and Service Tax (GST) Is Payable Under reverse charge Mechanism (RCM) in different scenarios. As per notifications given by government as on date there are various notified services on which GST has to be paid on reverse charge basis. SERVICES ON WHICH GST […]...

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GST Audit & Reconciliation – RCM Related Critical Issues

Goods and Services Tax - Time is now ripe for conducting GST Audit along with Reconciliation with books of accounts and filing of GST Annual Return. While reconciling the Accounts, it is very important to look into Transactions that attracts Reverse Charge, where the Recipient is Liable for Discharge Taxes and not the Supplier....

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Reverse Charge Mechanism under GST- An Analysis

Goods and Services Tax - 1. What is Reverse Charge? Normally, the supplier of goods or services pays the tax on supply. In the case of Reverse Charge, the receiver becomes liable to pay the tax, i.e., the chargeability gets reversed. 2. Why Reverse Charge Mechanism under GST? Motive of Reverse Charge Mechanism is mainly more tax compliance and increased […...

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Major Relief to Small Taxpayer’s in GST

Goods and Services Tax - The Central Government has issued Exemption Notification No. 8/2017-CT(Rate) dated 28-06-2017 giving relaxation to Registered Persons under GST from major (and draconian) compliance required under section 9(4) of the CGST Act, 2017....

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Implement workable reverse charge mechanism in Phases: ICAI

Goods and Services Tax - ICAI has submitted that the provisions for levy of taxes under the reverse charge mechanism applicable to a registered person, effecting an inward supply from an unregistered person, can be implemented in a phased manner and it also suggested that GST Council / Government may consider amending the law and enhance the knowledge of stakehol...

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IGST payable on transportation of goods by vessel under RCM

In re M/s. Chambal Fertilizers And Chemicals Limited (GST AAR Rajasthan) - In re M/s Chambal Fertilizers And Chemicals Limited (GST AAR Rajasthan) a. The applicant is liable to pay IGST on transportation of goods by vessel under Reverse Charge Mechanism (RCM) under Notification No. 10/2017- Integrated Tax (Rate) dated 28.06.2017. b. Regarding exclusion of any component of ...

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Recipient of service cannot make advance GST Ruling Application unless covered under RCM

In re Visvesvaraya National Institute Of Technology (GST AAR Maharashtra) - In re Visvesvaraya National Institute Of Technology (GST AAR Maharashtra) We find that in the present application as per submissions made before us, the applicant is recipient of service and not service providers and also that these services are not under reverse charge mechanism. The notification a...

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No RCM on payment of tax U/s. 5(4) of IGST Act, 2017 till 30.09.2019

Notification No. 23/2018 – Integrated Tax (Rate) - (06/08/2018) - Reverse charge Mechanism (RCM) under section 5(4) of the IGST Act, 2017, for procurement from unregistered dealer’s deferred till 30.09.2019 vide Notification No. 23/2018 – Integrated Tax (Rate) Dated: 6th August, 2018. ...

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No RCM on payment of tax U/s. 7(4) of UTGST Act, 2017 till 30.09.2019

Notification No. 22/2018 –Union Territory Tax (Rate) - (06/08/2018) - Reverse charge Mechanism (RCM) under section 7(4) of the UTGST Act, 2017, for procurement from unregistered dealer’s deferred till 30.09.2019 vide Notification No. 22/2018 –Union Territory Tax (Rate) Dated: 6th August, 2018....

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CGST: RCM on services by individual DSAs to banks/ NBFCs wef 27.07.2018

Notification No. 15/2018-Central Tax (Rate) [G.S.R. 679 (E)] - (26/07/2018) - CBIC amends notification No. 13/2017- Central Tax (Rate) so as to specify services supplied by individual Direct Selling Agents (DSAs) to banks/ non-banking financial company (NBFCs) to be taxed under Reverse Charge Mechanism (RCM) vide Notification No. 15/2018-Central Tax (Rate), Dated: 26th July, ...

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RCM on services by individual DSAs to banks/ NBFCs wef 27.07.2018

Notification No. 16/2018-Integrated Tax (Rate) [G.S.R. 684(E)] - (26/07/2018) - Seeks to amend notification No. 10/2017- Integrated Tax (Rate) so as to specify services supplied by individual Direct Selling Agents (DSAs) to banks/ non-banking financial company (NBFCs) to be taxed under Reverse Charge Mechanism (RCM) vide Notification No. 16/2018-Integrated Tax (Rate), Dated: 26...

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UTGST on Priority Sector Lending Certificate under Reverse Charge Mechanism

Notification No. 11/2018- Union Territory Tax (Rate) - (28/05/2018) - CBEC notifies levy of GST on Priority Sector Lending Certificate (PSLC) under Reverse Charge Mechanism (RCM) vide Notification No. 11/2018- Union Territory Tax (Rate)   dated 28th May 2018 by amending notification No. 04/2017- Union Territory Tax (Rate) dated 28.06.2017 GOVERNMENT OF INDIA MINISTR...

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Recent Posts in "Reverse Charge Mechanism"

GST on Royalty paid to State Government for availing mining rights

the business entities availing mining rights including its exploration and valuation shall be charged to GST at the rate of tax as applicable on supply of like goods being mined. For example, the supply of Red Boulder , Soft Boulder attracts 5% GST as specified under Chapter Heading 2516 of GST Tariff Act and thus the royalty on Red Bou...

Read More

Reverse Charge on Services under GST

In the current article we will discuss about services On Which Goods and Service Tax (GST) Is Payable Under reverse charge Mechanism (RCM) in different scenarios. As per notifications given by government as on date there are various notified services on which GST has to be paid on reverse charge basis. SERVICES ON WHICH GST […]...

Read More

GST Audit & Reconciliation – RCM Related Critical Issues

Time is now ripe for conducting GST Audit along with Reconciliation with books of accounts and filing of GST Annual Return. While reconciling the Accounts, it is very important to look into Transactions that attracts Reverse Charge, where the Recipient is Liable for Discharge Taxes and not the Supplier....

Read More

Reverse Charge Mechanism under GST- An Analysis

1. What is Reverse Charge? Normally, the supplier of goods or services pays the tax on supply. In the case of Reverse Charge, the receiver becomes liable to pay the tax, i.e., the chargeability gets reversed. 2. Why Reverse Charge Mechanism under GST? Motive of Reverse Charge Mechanism is mainly more tax compliance and increased […...

Read More

Major Relief to Small Taxpayer’s in GST

The Central Government has issued Exemption Notification No. 8/2017-CT(Rate) dated 28-06-2017 giving relaxation to Registered Persons under GST from major (and draconian) compliance required under section 9(4) of the CGST Act, 2017....

Read More

IGST payable on transportation of goods by vessel under RCM

In re M/s. Chambal Fertilizers And Chemicals Limited (GST AAR Rajasthan)

In re M/s Chambal Fertilizers And Chemicals Limited (GST AAR Rajasthan) a. The applicant is liable to pay IGST on transportation of goods by vessel under Reverse Charge Mechanism (RCM) under Notification No. 10/2017- Integrated Tax (Rate) dated 28.06.2017. b. Regarding exclusion of any component of expenditure upon imported goods (Ocean f...

Read More

Recipient of service cannot make advance GST Ruling Application unless covered under RCM

In re Visvesvaraya National Institute Of Technology (GST AAR Maharashtra)

In re Visvesvaraya National Institute Of Technology (GST AAR Maharashtra) We find that in the present application as per submissions made before us, the applicant is recipient of service and not service providers and also that these services are not under reverse charge mechanism. The notification as referred by them, is applicable to pro...

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Why has GST Reverse Charge been delayed till 2019?

As of late, the Central Board of Indirect taxes and Customs (CBIC) has told obviously that the arrangements as regards the Reverse Charge Mechanism (RCM) under GST have been additionally Deferred by Government till the following year....

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No RCM on payment of tax U/s. 5(4) of IGST Act, 2017 till 30.09.2019

Notification No. 23/2018 – Integrated Tax (Rate) (06/08/2018)

Reverse charge Mechanism (RCM) under section 5(4) of the IGST Act, 2017, for procurement from unregistered dealer’s deferred till 30.09.2019 vide Notification No. 23/2018 – Integrated Tax (Rate) Dated: 6th August, 2018. ...

Read More

No RCM on payment of tax U/s. 7(4) of UTGST Act, 2017 till 30.09.2019

Notification No. 22/2018 –Union Territory Tax (Rate) (06/08/2018)

Reverse charge Mechanism (RCM) under section 7(4) of the UTGST Act, 2017, for procurement from unregistered dealer’s deferred till 30.09.2019 vide Notification No. 22/2018 –Union Territory Tax (Rate) Dated: 6th August, 2018....

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