RCM Under VAT

MIDHUN VM (Student CA IPC / IPCC) (13 Points)

30 March 2022

Dear experts kindly advise me the booking and claiming entries of the import purchase under RCM

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6 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14868 Points)
Replied 30 March 2022

Reverse Charge Machanism dose exists in VAT regime .

prasad Nilugal (3924 Points)
Replied 30 March 2022

Please correct my above reply , RCM dose not exist in VAT regime .

MIDHUN VM (Student CA IPC / IPCC) (13 Points)
Replied 30 March 2022

Under Oman VAT article 151 deals with the RCM

prasad Nilugal ( GST Practitioner & Accounts ) (14868 Points)
Replied 30 March 2022

Sir , Two different countries have , different taxation policy .

MIDHUN VM (Student CA IPC / IPCC) (13 Points)
Replied 30 March 2022

Sorry I forgot to mention the country. please advise

prasad Nilugal ( GST Practitioner & Accounts ) (14868 Points)
Replied 30 March 2022

Sir , I have to study your VAT law of Oman , as same has been new and introduced last year .

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