04 March 2020
Which expenses are applicable under RCM liability for Infrastructure Business ? Can any one share List of expenses which are covered under RCM ?
05 March 2020
Infrastructure business means the real estate sector. Right?
List f expenses covered under RCM for the real estate sector:- If the promoter (Builder/developer) fails to purchase at least 80% of the value of input and input services, from registered suppliers then the promoter (builder/developer) has to pay GST @18% on reverse charge basis on all such inward supplies for the shortfall amount .Tax rate on Cement purchased from unregistered Person would be 28%.
2. On TDR or floor space index supplied on or after 01-04-2019.
3. Differential tax arising on procurement of works contract services in relation to the construction of affordable residential apartments, if 50% criteria mentioned therein are not met.
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