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....
It provides that every supplier shall be liable to be registered under this Act in the State or Union territory, other than special category States, from where he makes a taxable supply of goods or services or both, if his aggregate turnover in a financial year exceeds twenty lakh rupees.
Power to Levy and Collect tax under reverse charge: Section 9(3) of the CGST Act, 2017, read with section 5(3) of the IGST Act, 2017 provides the power to levy tax on receiver of the supply of goods and services.
Under the Service Tax Law, tax on Reverse Charge basis is leviable under various services but the concept of Reverse Charge on goods is totally a new concept under the GST regime. Sections 9(3) & 9(4) of the GST Act, 2017 deals with the provisions of Reverse Charge
Under the current Service Tax Law tax on Reverse Charge basis is leviable under various services but the concept of Reverse Charge on goods is totally a new concept under the GST regime. Sections 9(3) & 9(4) of the GST Act, 2017 deals with the provisions of Reverse Charge.
GST Council in its 14th meeting on 18th & 19th of May 2017 held in Srinagar, suggested the list of goods & services on which tax should be levied under Reverse Charge Mechanism (RCM). In all 12 services has been suggested by the Council to be notified by the government as services on which Reverse Charge Mechanism shall apply. Not only services but RCM is applicable on supply of goods also. In this article we will cover all the provisions related to RCM under GST. For the first time, we have drafted the article in form of question and answers. We have tried to cover all the aspects of RCM in these questions, so now let us start with our question answer session.
Articles covers list of services that will be under reverse charge as approved by the GST Council and Percentage of GST payable by service provider and any person other than Nthe service provider. SERVICES UNDER REVERSE CHARGE AS APPROVED BY GST COUNCIL The fitment of rates of services were discussed on 19 May 2017 during […]
Krishna, from various peculiar provisions of GST the provision of RCM comes. According to this RCM provision what will happen if purchases are made from unregistered person?
Under GST, RCM is applicable to both supply of certain Goods and or services as notified by the Government. RCM is also applicable for supplies received from unregistered suppliers also. Persons who are required to pay tax under reverse charge has to compulsorily register under GST
Reverse charge under GST is applicable on the followings: 1. Unregistered dealer supply taxable goods or services or both to a registered dealer: the registered dealer has to pay GST on the supply of taxable goods or services or both.
Can Government collect tax from Un-registered Person under GST? ..Answer, No (but indirectly, Yes – thru Reverse Charge Mechanism!!)
