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RCM Applicability

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112 Points Joined March 2017
Is GST RCM applicable on remuneration & interest paid to partners of a Partnership firm? if yes what'll be the rate of GST?
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On 09 April 2020 at 23:04 Report
Replies (8)
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Student
290 Points Joined April 2012
No RCM in such case
2 Reply
On 10 April 2020 at 00:13
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Student
23688 Points Joined November 2017
No Modassir. Reverse Charge Mechanism is not applicable on Remuneration & Interest paid to partners of a Partnership Firm.
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On 10 April 2020 at 00:48
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227 Points Joined March 2018
Interest paid come under exemption notice and remuneration paid fall under the head of salary and salary not liable to gst
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On 10 April 2020 at 04:35
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112 Points Joined March 2017
Thanks Sir
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On 10 April 2020 at 05:56
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602 Points Joined January 2020
Remuneration payable or paid to partner is considered under Business and professional income head and on which gst is applicable.
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On 10 April 2020 at 11:24
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227 Points Joined March 2018
Dear rajkumar ji

please explain , how????
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On 10 April 2020 at 11:28
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GST Practitioner
55067 Points Joined June 2017
Interest is Exempted by Notification 12/2017 CT (r) , under s.no.27 & Salary to partners cover under Schedule III , Hence No GST is applicable on the same.
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On 10 April 2020 at 11:59
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112 Points Joined March 2017
Thanks for the valuable information
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On 10 April 2020 at 12:14

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