Greeting.
RCM postponed
RCM applicable for the purchases from the unregistered dealer shall be suspended till 31.03.2018
My query is:
1. Is it applicable for Services received from unregistered dealer also.
2. Any notification regarding the same.
Thanks in advance
As per the press release on 22nd GST Council Meeting, it has been said that
"The Reverse Charge Mechanism under sub section (4) of section 9 of the CGST Act, 2017 and under sub section (4) of section 5 of IGST Act, 2017 shall be suspended till 31.03.2018 and will be reviewed by a committee of experts. This will benefit small businesses ans substancially reduce compliance costs"
As per the above sections, it covers Services also.
As per the press release on 22nd GST Council Meeting, it has been said that
"The Reverse Charge Mechanism under sub section (4) of section 9 of the CGST Act, 2017 and under sub section (4) of section 5 of IGST Act, 2017 shall be suspended till 31.03.2018 and will be reviewed by a committee of experts. This will benefit small businesses ans substancially reduce compliance costs"
As per the above sections, it covers Services also.
Thanks for your swift reply sir
Any notification issued by the council regarding the same. will it be applicable without notification,
CAclubindia
