Goods and Services Tax : Understand CBIC's Circular No. 211/5/2024-GST clarifying the ITC time limit under section 16(4) of CGST Act for supplies under RCM...
Goods and Services Tax : Understand CGST Act's Section 16(4) time limits for claiming ITC on RCM supplies from unregistered persons, clarified in SEBI's Ci...
Goods and Services Tax : Understand GST liability under Reverse Charge Mechanism (RCM) for services consumed outside India. Analysis based on recent Rajast...
Goods and Services Tax : Understand Reverse Charge Mechanism (RCM) on Renting of Motor Vehicles and Input Tax Credit (ITC) implications. Learn about tax li...
Goods and Services Tax : Article explains Reverse Charge Mechanism (RCM) under GST law, its necessity, eligibility criteria, time and tax payment aspects, ...
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...
Income Tax : ICAI has submitted that the provisions for levy of taxes under the reverse charge mechanism applicable to a registered person, eff...
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 : Delhi High Court's interim relief to Metal One Corp. by staying GST Reverse Charge Mechanism (RCM) show cause notices. Analysis of...
Goods and Services Tax : Clarification on time limits for ITC on RCM supplies from unregistered persons under Section 16(4) of CGST Act. Read Circular 211/...
Goods and Services Tax : Get clarifications on GST applicability for services provided by directors in personal capacity and supply of food in cinema halls...
Goods and Services Tax : The Ministry of Finance, through Notification No. 06/2023-Union Territory Tax (Rate) issued on 26th July 2023, introduces amendme...
Goods and Services Tax : Notification No. 06/2023-Integrated Tax (Rate) amends GST for GTA, allowing the continuation/exercise of RCM/FCM option. Effective...
Goods and Services Tax : Notification No. 06/2023-Central Tax (Rate) issued by the Ministry of Finance amends GST rates for services as recommended by the ...
As per the latest scenario there are daily updates coming in GST. So here I have prepared amended Reverse charge Mechanism (RCM) sheet till Notification No. 29/2018- Central Tax (Rate) Dated 31.12.2018. In exercise of the powers conferred by sub-section (3) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of […]
1. Vide Notification No. 29/2018-Central Tax (Rate) dated 31.12.2018 Sr. No. 14 has been inserted, w.e.f. 01.01.2019, to the Notification No. 13/2017- Central Tax (Rate) which provides for the payment of tax in respect of security services under reverse charge mechanism (RCM). Same reads as under: Sl. No. Category of Supply of Services Supplier of […]
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 threshold limit […]
It is the case of the Revenue that the appellant is reimbursing the freight amount to their consignees to the extent freight is paid by the consignee. Besides, it was also found that the appellant was also issuing credit notes for reimbursement of freight charges. Thus, the case of the Revenue is that the freight is ultimately paid by the appellant i.e. the consignor even in the cases where invoices show balance freight amount to be paid by the consignee-dealer.
As we all must be aware of this fact that GST is normally charged by Supplier of Goods/Services. But there are some cases where the Recipient will be liable to pay GST instead of Supplier. This structure of charging GST is called Reverse Charge Mechanism (RCM). Now Let’s Understand it step by step: A. When is RCM […]
Whether the payment of fees to USFDA shall tantamount to import of services and hence shall require payment of tax under reverse charge mechanism ?
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 Boulder or Soft Boulder or GSB extracted from the mines shall also be taxable @ 5%. Therefore GST should be paid at the rate of supply of like goods being mined on royalty being paid to the Government by business entities for availing mining rights under RCM ( Reverse Charge mechanism)..
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 […]
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.
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 […]
