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Goods and Services Tax - Recently notifications were issued in relation to the real estate industry, what are the provisions in relation to applicability of Reverse charge mechanism (RCM) to builders and developers, do they need to pay tax under RCM ?...
Read MoreGoods and Services Tax - Concept of Reverse Charge under CGST Act, 2017 & IGST Act, 2017 explained in a lucid manner covering list of Goods & Services covered under RCM ...
Read MoreGoods and Services Tax - GST Payable on Reverse charge mechanism basis (RCM) on specified goods and services GST is collected and paid by the Seller who is registered under CGST Act if tax is applicable unless GST is payable by the recipient of goods and services on reverse charge mechanism basis as per the provisions of Section 9(3) of […]...
Read MoreGoods and Services Tax - The term Security Service is not defined in the CGST Act, 2017. As per general understanding Security service is a service wherein a person supplies security personnel to another person for a consideration. However, in the old regime of Service Tax, the term Security Agency was defined under section Section 65(94) of Finance Act, 1994; wh...
Read MoreGoods and Services Tax - What is the RCM (Reverse Charge Mechanism) under GST? Reverse charge is a mechanism under which the recipient of the goods or services is liable to pay the tax instead of the provider of the goods and services. Under the normal taxation regime, the supplier collects the tax from the buyer and deposits the same […]...
Read MoreGoods 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...
Read MoreIn re Ms. Famous Studios Ltd. (GST AAR Maharastra) - In re Ms. Famous Studios Ltd. (GST AAR Maharastra) Question:- 1. Whether the exemption from payment of GST on reverse charge basis under section 9(4) of the CGST Act / SGST Act for receipt of supply of goods and / or services by us from an unregistered person is applicable irrespective of any thresh...
Read MoreIn 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 ...
Read MoreIn 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...
Read MoreNotification No. 08/2019- Integrated Tax (Rate) - (29/03/2019) - Notification No. 08/2019- Integrated Tax (Rate)– Seeks to amend notification No. 1/2017- Integrated Tax (Rate) so as to notify IGST rate of certain goods as recommended by Goods and Services Tax Council for real estate. Government of India Ministry of Finance (Department of Revenue) Notifica...
Read MoreNotification No. 05/2019- Integrated Tax (Rate) - (29/03/2019) - Seeks to amend notification No. 10/2017- Integrated Tax (Rate) so as to specify services to be taxed under Reverse Charge Mechanism (RCM) as recommended by Goods and Services Tax Council for real estate sector. Government of India Ministry of Finance (Department of Revenue) Notification No. 05/2019-...
Read MoreNotification No. 05/2019- Central Tax (Rate) - (29/03/2019) - Notification No. 05/2019- Central Tax (Rate)– Seeks to amend notification No. 13/2017- Central Tax (Rate) so as to specify services to be taxed under Reverse Charge Mechanism (RCM) as recommended by Goods and Services Tax Council for real estate sector. Government of India Ministry of Finance ...
Read MoreNotification No. 23/2018 – Integrated Tax (Rate) [G.S.R. 744(E)] - (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 MoreNotification No. 22/2018 –Union Territory Tax (Rate) [G.S.R. 742 (E)] - (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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In re Ms. Famous Studios Ltd. (GST AAR Maharastra) -
Notification No. 08/2019- Integrated Tax (Rate) - (29/03/2019) -
Notification No. 05/2019- Integrated Tax (Rate) - (29/03/2019) -
