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RCM aplicable on services provided by director

sona1 (MANAGER) (157 Points)

31 July 2021  

We have paid  SALARY,INTEREST & RENT  to  our Director , as per GST law it  will be considered as services provided by director and chagable to RCM against this expenses.
 


 26 Replies

Sourav (Student) (23887 Points)
Replied 31 July 2021

Yes RCM is applicable

Nidhi (Chief Accountant) (2060 Points)
Replied 31 July 2021

On salary and interest GST not applicable.
if rent is paid for commercial property than GST is applicable, otherwise exempt.

it's nothing to do with RCM

Priya Sharma (Account Manager) (120 Points)
Replied 31 July 2021

Salary is out of GST, right ?

Nidhi (Chief Accountant) (2060 Points)
Replied 31 July 2021

Yes, Salary is out of preview of GST, so there is no GST applicable

Priya Sharma (Account Manager) (120 Points)
Replied 31 July 2021

But I heard that on director salary GST under RCM is applicable .

Nidhi (Chief Accountant) (2060 Points)
Replied 31 July 2021

On managing director remuneration, or sitting fee paid to direct, where TDS is deducted u/s 194 J ..GST under RCM is applicable
1 Like

Priya Sharma (Account Manager) (120 Points)
Replied 31 July 2021

So, if TDS deduction as salary than, No GST ?

Nidhi (Chief Accountant) (2060 Points)
Replied 31 July 2021

Yes, right.....

Priya Sharma (Account Manager) (120 Points)
Replied 31 July 2021

Interest is non taxable on loan ?

Nidhi (Chief Accountant) (2060 Points)
Replied 31 July 2021

Yes, there is no GST on interested, whether under RCM or FCM .
it's exempt from GST

Priya Sharma (Account Manager) (120 Points)
Replied 31 July 2021

Or rent is taxable ?

Nidhi (Chief Accountant) (2060 Points)
Replied 31 July 2021

It's depends up a which type of property are rented

Priya Sharma (Account Manager) (120 Points)
Replied 31 July 2021

If it's official rent than GST applicable, right ?
1 Like

Nidhi (Chief Accountant) (2060 Points)
Replied 31 July 2021

If rent is for commercial property than its taxable
if it's for residential property, than exempt
1 Like

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