Goods and Services Tax : The guide clarifies when GST liability shifts to the recipient under RCM for GTA and renting services. The key takeaway is that co...
Goods and Services Tax : The analysis confirms that export of legal services qualifies as zero-rated supply under Section 16 of the IGST Act. Refund of unu...
Goods and Services Tax : GSTR-3B में लागू नए सिस्टम नियम के तहत RCM ITC अब सीमित कर द...
Goods and Services Tax : Learn how GST liability shifts from supplier to recipient under RCM and understand the key services affected....
Goods and Services Tax : Explains how the Court ruled that IGST on ocean freight under RCM was illegally collected and must be refunded with interest. Key ...
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 : The Court ruled that authorities cannot deny ITC by disregarding binding CBIC circulars. It held that cross-charging of ITC is leg...
Service Tax : The issue was whether the service provider was liable to pay service tax on manpower services. The Tribunal held that liability re...
Goods and Services Tax : TN AAR rules that traders of sand, blue metals, and bricks from unregistered suppliers are not liable for GST under Reverse Charge...
Goods and Services Tax : Calcutta High Court overturns CESTAT's remand order, directing a refund to Ipsen Technologies. A typographical omission by the Tri...
Service Tax : Kolkata CESTAT sets aside service tax demand on Maninder Singh, citing recipient's payment under RCM and invalidity of demand base...
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....
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 […]
The Central Government has issued Exemption Notification No. 8/2017-CT(Rate) dated 28-06-2017 giving relaxation to Registered Persons under GST from major (and draconian) compliance required under section 9(4) of the CGST Act, 2017.
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 expenditure upon imported goods (Ocean freight) while determining their […]
As of late, the Central Board of Indirect taxes and Customs (CBIC) has told obviously that the arrangements as regards the Reverse Charge Mechanism (RCM) under GST have been additionally Deferred by Government till the following year.
