Reverse charge mechanism
This query is : Resolved
02 May 2015
In RCM service receipient has to pay 50% liability of ST. But if he pays more than 50% of total liability can service provider pay the balance amount or he should pay total remaining 50%
02 May 2015
Hi Kiran,
Your query is on WCS, I believe. Whatever it may be, there is no adjustment of tax paid by one person to another person's tax liability. So, each shall pay their respective share of tax liability undoubtedly. Any such excess tax paid by mistake, can be adjusted against tax liability against the tax liability of immediately succeeding month/quarter, as the case may be. Thanks. CA. C V SURYAM
Your query is on WCS, I believe. Whatever it may be, there is no adjustment of tax paid by one person to another person's tax liability. So, each shall pay their respective share of tax liability undoubtedly. Any such excess tax paid by mistake, can be adjusted against tax liability against the tax liability of immediately succeeding month/quarter, as the case may be. Thanks. CA. C V SURYAM
Message likes :
1 times
02 May 2015
But Sir with due respect to your opinion is it not double taxation on the same receipt.
03 May 2015
There is no scope for equity in law. As such there is no revenue implication in the case you say,but when the law fixes some revenue responsibility on tax payers,they must act accordingly only.the Department may or may not accept yr argument.tks n rgds sagar mal pareek 9824346469,smpfca@gmail.com
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- ITDS U/S.194T of Firm
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- TDS AND ITR ISSUE
- TDS ON EMAIL DOMAIN SERVICE BILL
- GST Rate for Catering Services
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
