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sona1 (MANAGER)     31 July 2021

RCM aplicable on services provided by director

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

Sourav (Student)     31 July 2021

Yes RCM is applicable
Nidhi

Nidhi (Chief Accountant)     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

Priya Sharma (Account Manager)     31 July 2021

Salary is out of GST, right ?
Nidhi

Nidhi (Chief Accountant)     31 July 2021

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

Priya Sharma (Account Manager)     31 July 2021

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

Nidhi (Chief Accountant)     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

Priya Sharma (Account Manager)     31 July 2021

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

Nidhi (Chief Accountant)     31 July 2021

Yes, right.....
Priya Sharma

Priya Sharma (Account Manager)     31 July 2021

Interest is non taxable on loan ?
Nidhi

Nidhi (Chief Accountant)     31 July 2021

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

Priya Sharma (Account Manager)     31 July 2021

Or rent is taxable ?
Nidhi

Nidhi (Chief Accountant)     31 July 2021

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

Priya Sharma (Account Manager)     31 July 2021

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

Nidhi (Chief Accountant)     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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