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....
CBIC’s new RCM self-invoicing rules, effective Nov 2024, mandate timely self-invoices for goods or services from unregistered suppliers under Rule 47A.
Learn about GST amendments on commercial rental income. RCM now applies when unregistered landlords rent to registered tenants. Effective from October 10, 2024.
Concept of Reverse Charge under CGST Act, 2017 & IGST Act, 2017 explained in a lucid manner covering list of Goods & Services covered under RCM
The concept of reverse charge mechanism was introduced in erstwhile Service Tax laws. Generally, tax is payable by the person who provides Services but under reverse charge mechanism the liability to pay tax has shifted to recipient of Services.
Reverse Charge applies to metal scrap from unregistered suppliers to registered buyers from 10.10.2024. GST to be paid by the recipient as per Notification 06/2024.
The Ministry of Finance amends GST notification, exempting metal scrap suppliers from provisions of notification No. 5/2017-Central Tax, effective October 10, 2024.
Notification No. 06/2024 updates reverse charge mechanism for metal scrap transactions, applicable from 10th October 2024.
Understanding how Input Tax Credit (ITC) applies when output supply is exempt or subject to Reverse Charge Mechanism (RCM) under Section 17 of the GST Act.
Promoters must meet an 80% threshold for input and input services from registered suppliers, with tax on shortfall paid under RCM. Cement attracts 28% GST.
Understand GST implications on renting immovable property, including exemptions, taxability mechanisms, reverse charge, and input tax credit for landlords and tenants.
