I understand that on Importing of Goods/services for which GST is not charged, we will need to reverse charge mechanism. As currently the RCM is delayed till March, are imports essentially not taxed?
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Gst on import of services
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RCM abolished only for Sec 9(4) i.e. purchased from registered dealer..
This transaction covered in Sec 9(3) i.e specified service list. So iyou are required to pay tax essentially on this.
This transaction covered in Sec 9(3) i.e specified service list. So iyou are required to pay tax essentially on this.
Okay, thanks. Is there any exemption limit? Like if purchase is less than 4000 then no need to do RCM?
No exemption limit for GTA...
Only freight upto Rs.750/- is exempted from tax.....
Only freight upto Rs.750/- is exempted from tax.....
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