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Change in abatement rates under reverse charge mechanism
For amount paid to manpower supplier after 1.4.15 for bills dated before 1.4.15, at what rate should rcm be charged 75% or 100%
Replies (2)
Accoring to Point of Taxation Rules, If the Provision of Service was completed on or before 1-4-15, then 75% rcm would be applicable.
and if the provision of service was completed after 1-4-15, then 100% rcm would be applicable.
Suppose for example, your
Date of provision Date of Invoice Date of Payment RCM
1-3-15 28-3-15 2-4-15 75%
4-4-15 28-3-15 2-4-15 100%
hope your doubt is clear now.
But as per POT for rcm date of payment is considered as POT..so abatement as on that day would be applicable??
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