banner_ad

Effective date & Liability to pay

550 views 2 replies
As per notification no. 09/2024,dated 08/10/2024 central tax rate, rcm is applicable for any rent other than dwelling residential property, w. e. f. 10/10/2024

We paid warehouse rent on 09/10/2024, for the month of October 2024

can we are liable to pay rcm for October, 2024 rent paid on 09/10/2024

please guide
Replies (2)

Based on the notification, RCM (Reverse Charge Mechanism) is applicable for rent on non-residential properties, effective 10/10/2024. Since you paid warehouse rent on 09/10/2024, for the month of October 2024, you are not liable to pay RCM for this specific payment. Here's why: - The RCM notification is effective from 10/10/2024. - Your payment was made on 09/10/2024, which is before the effective date. - The rent is for the month of October 2024, but the payment was made in September, so it falls under the old rules. However, keep in mind that from November 2024 onwards, RCM will be applicable for rent on non-residential properties, including warehouse rent. Ensure you factor this in for future payments. Please consult a tax professional or expert to confirm this interpretation and ensure compliance with GST regulations.

But sir rent is paid specific for October 2024 to landlord, on 09/10/24.

Notification is effective fron 10/10/2024

My understanding is though rent paid on 09/10/24
but rent is pertaining to Oct. 24, & we are consuming service whole October 24 month.

If rent period is up to 09/10/24, then it is ok, rcm is not applicable.

In this scenario what is the legal angle of this situation.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details