Goods and Services Tax : Learn about Reverse Charge Mechanism (RCM) under GST, its applicable goods/services, suppliers, recipients, and GST rates. Stay up...
Goods and Services Tax : Learn about Reverse Charge Mechanism (RCM) under GST, including applicable services and conditions for recipients to pay tax....
CA, CS, CMA : Proposals to ease GST Reverse Charge Mechanism and TCS compliance. Updates to RCM services and TCS changes on advances can simplif...
Goods and Services Tax : Understand GST provisions for residential and commercial property renting, including RCM applicability, tax rates, and input tax c...
Goods and Services Tax : Starting November 1, 2024, self-invoicing is mandatory for RCM transactions. Delays in issuance may lead to loss of ITC and penalt...
Goods and Services Tax : Explore the key recommendations made by the GST Council during its 54th meeting, including changes in GST rates, GoM formations, a...
Goods and Services Tax : Advocates' Tax Bar Association urges the Finance Minister to abolish Reverse Charge Mechanism for registered dealers, citing burde...
Goods and Services Tax : Maharashtra Tax Practitioners’ Association has made a representation on Confusion related to Levy of GST under RCM on Reside...
Goods and Services Tax : उपरोक्त विषय में निवेदन है कि इस समय माइनिंग इंडस...
Goods and Services Tax : CBIC issues 43 notifications on 30th September 2019 to give effect to Recommendations made by GST Council in its 37th Meeting. Mos...
Goods and Services Tax : Rajasthan GST AAR clarifies GST payment on corporate guarantees issued by foreign entities under reverse charge mechanism as one-t...
Service Tax : CESTAT Bangalore held that that service tax on commission paid to foreign commission agents is payable under reverse charge only ...
Goods and Services Tax : Explore the implications of GST AAR Tamilnadu Order No. 04/ARA/2024 dated 28.03.2024 on the taxation of ocean and air export freig...
Goods and Services Tax : Rajasthan HC dismisses petition challenging GST demand on exhibition services. Detailed analysis of the legal arguments and court'...
Goods and Services Tax : Punjab & Haryana HC grants stay on GST demand of Rs. 20.46 Cr on Mitsubishi Electric for seconded employees' salaries, citing Apex...
Goods and Services Tax : Government of India corrects any property to any immovable property in Union Territory Tax Rate Notification issued on October 8, ...
Goods and Services Tax : The Ministry of Finance issued a corrigendum to Notification No. 09/2024, clarifying any property to any immovable property....
Goods and Services Tax : The Government of India corrects the phrase any property to any immovable property in the recent Central Tax Rate Notification....
Goods and Services Tax : The Ministry of Finance amends GST notification, exempting metal scrap suppliers from provisions of notification No. 5/2017-Centra...
Goods and Services Tax : Notification No. 06/2024 updates reverse charge mechanism for metal scrap transactions, applicable from 10th October 2024....
In accordance with Notification No. 11/2017- Central Tax (Rate) dated 28th June, 2017, GST under Reverse Charge Mechanism is payable on supply of services by a goods transport agency (GTA) in respect of transportation of goods by road to- -any factory registered under or governed by the Factories Act, 1948(63 of 1948);or -any society registered […]
Reverse Charge Mechanism (RCM) under Section 9(4) of the CGST Act, 2017 and recent Notification No. 07/2019- Central Tax (Rate) dated 29th March 2019 effective from 1st April, 2019 The provision that has gathered maximum attention for its ability to create significant stress and nuisance would clearly be Section 9(4) of the Central Goods and […]
Reverse Charge Mechanism (RCM) on purchases made from Unregistered Dealer under GST As per Section 9(4) of CGST Act, 2017 and Section 5(4) of IGST Act, 2017 any Supply of goods or service from an Unregistered supplier to a Registered supplier will cast liability to Pay GST to the Government in the form of RCM i.e. […]
Reverse Charge Mechanism (RCM) for purchase of input goods and services used in Construction of Project from the Unregistered Person [Notification No. 07/2019- Central Tax (Rate) dated 29th March 2019 effective from 1st April, 2019]. After a long gap, the Central Government has used its power provided under amended Section 9(4) of the CGST Act, […]
Section 17(3) of the CGST Act requires reversal of input tax credit where input and input service is used for making exempt supplies. As per section 17(3) of CGST Act, the value of exempt supply shall include Supply where GST is payable on reverse charge basis – The supplier need to reverse input tax credit as he is not liable to pay tax on outward supplies and Tax is payable by the recipient of such supplies.
IN GST regime, under RCM (Reverse charge mechanism), for supply of following services as in the table below has been notified, the GST payment of which is on the recipient of services, instead of supplier of service. For ease of understanding, updated comprehensive list is appended with notifications for amendment/insertion:- S.No. Category of Supply of […]
The provision that has gathered maximum attention for its ability to create significant stress and nuisance would clearly be Section 9(4) of the Central Goods and Services Tax Act, 2017 (‘CGST Act’). Before we go to that, we should understand Reverse Charge Mechanism. Reverse Charge Mechanism (RCM). Normally, the supplier of goods or services pays […]
Whether the applicant/importer is again required to pay IGST on the component of ocean freight under RCM mechanism on deemed amount which will amount double taxation of IGST on the deemed component of ocean freight of the imported goods?
Generally, the supplier of goods or services is liable to pay GST. However, in specified cases like imports and other notified supplies, the liability may be cast on the recipient under the reverse charge mechanism. Reverse Charge means liability to pay the tax is on the person receiving goods/services instead of the person supplying the […]
In re Man Structurals (P) Ltd. (GST AAR Rajasthan) Whether GST is payable under Reverse Charge Mechanism (RCM) the salary paid to Directors of the company who is paid salary as per employment contract? We observe that Shri Madhu Sudan Sharma, authorized representative of the applicant, submitted a letter dated 29.06.2020 addressed to this authority […]
