Goods and Services Tax : GST on rental income has evolved significantly since 2017, with several transactions now covered under Reverse Charge Mechanism. T...
Goods and Services Tax : Reverse Charge Mechanism under GST is increasingly becoming technology-driven with stricter GSTN validations, reconciliations, and...
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 : 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....
The reverse charge mechanism (RCM) was first introduced effectively from 01-01-2005 vide Notification No. 36/2004-ST dt. 31-12-2004 read with Rule 2(1)(d) of Service Tax Rules, 1994. With effect from 01-07-1012 a new mechanism of reverse charge (RCM) and partial reverse charge or joint charge (PRCM / JCM) was introduced with the introduction of negative list regime of service tax.
1. Freight paid/payable to Goods Transport Agency (GTA) 1.1 Does individual/proprietorship firm is liable to pay service an When tax under reverse charge? An Individual or a proprietorship firm is liable to take service tax registration and pay service tax under reverse charge only if:- i. It is registered as a dealer of excisable goods […]
The date of 01.07.2012 was a critical date in service tax laws because from this date the service tax laws underwent gigantic change. The concept of Negative list and partial reverse charge was introduced for the first time to broaden the scope of service tax along with simplifying the service tax laws.
What is Reverse Charge? Generally, Service tax is payable by person providing the service who actually collect the tax and pays to government. But Section 68(2) introduced and makes provision for reverse charge i.e. making person receiving the service, liable to pay tax. Provision can be made that part of tax will be paid by service receiver and part by service provider or entire by Service Receiver.
Point of taxation is determined on the basis of earlier of following events (Rule 3) :- a) The time when the invoice for the service provided or to be provided is issued OR b) Where the person providing the service, receives a payment Provided that the invoice has been issued within 30 (45 in case […]
1) Introduced in the Finance Act, 1994 under Service Tax Rules in 2002. 2) An explanation to Section 65(105) was added wherein concept of import of services was launched. 3) This explanation to Section 65(105) was removed in year 2006 and Section 66A was inserted. 4) Rule 2(1)(d) of the Service tax rules, 1994 prescribed the cases of deemed service providers.
The tourism sector is booming at a rate that none other sector have thought of. Today maximum revenue for any country’s or even state’s government is earned from tourism sector, but where different states are trying to promote their tourism, the CENTRAL Government with the introduction of Partial Reverse Charge in Service Tax has raised […]
The Reverse Charge Mechanism (a.k.a. RCM) was introduced first by Notification No. 36/2004 specifying Persons liable to pay Service Tax. Where section 68(1) of the Finance Act provided, in the year 1994 that the Service Provider shall be the person liable to pay Service Tax, section 68(2) empowered the Government to prescribe Services wherein the Service Receiver instead of the Service Provider to be person liable to pay Service Tax.
CA Tarannum Khatri Definition of legal service As per Notification No. 25/2012-Service Tax, Dated – 20th June, 2012 “Legal service” means any service provided in relation to advice, consultancy or assistance in any branch of law, in any manner and includes representational services before any court, tribunal or authority” (Before 1/7/2012 representative service was exempt) […]
Whether Service Tax can be demanded again from the Service Recipient under reverse charge, where the same has been paid by the Service Provider and accepted by the Department?
