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 ...
In the normal course of taxability in GST liability to pay GST on supplier on supply of Goods or services but in some cases recipient of goods or services liable to pay GST. The concept of reverse charge under GST is similar to the e reverse charges liability in previous service tax law
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.
In current environment there is a big ambiguity regarding when we are need to issue tax invoice for the taxable supply received from unregistered supplier specified in u/s 9(3) and 9 (4) of CGST Act and at what point of timing we are need to issue payment voucher.
Section 9(4) of the CGST Act, 2017 requires payment of Central Tax in respect of supply of taxable goods or services or both by a supplier, who is not registered, to a registered person shall be paid by such person on reverse charge basis as the recipient. The statutory provision of Section 9(4) of the CGST Act, 2017 is reproduced below:-
No, reverse charge is being suspended only for purchases made by registered persons from unregistered persons. Reverse charge liability as notified under section 9(3) of the CGST Act, 2017, will continue to be applicable.
THERE IS CONFUSION EFFECTIVE DATE OF NOTIFICATION No.38/2017 DT.13/10/2017. ALTHOUGH CLEARED BY TWEET OF GSTN – FURTHER CLARIFICATION
Reverse Charge Mechanism which proved to be most Draconian provision has been now relaxed, of course temporarily till 31st March’ 2018, as per the decision taken at 22nd HST Council meeting on 6th Oct’2017
Reverse charge means the liability to pay tax by a person receiving goods or services or both. In the normal circumstances the seller ( supplier ) would be paying sales tax to the Government on the goods sold or services supplied.
The levy of tax on supply of goods and / or services can be grouped under three categories :- (i) in the hands of the supplier or (ii) in the hands of the recipient of goods / services under reverse charge mechanism and, (iii) in case of specified services, in the hands of electronic commerce […]
This video can clear all concepts regarding RCM under GST. RCM is powerful tool used by government , which will not only enhance revenue of government but also help in catch tax payers who are not comply GST provisions. you can also watch my video in hindi on this topic . visit tAX sATHI channel on you tube.
