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Rcm applicability for fy 1819

N.V. Siva Ram Prasad (Accounts & Audit Assistant) (259 Points)

19 July 2021

sir is there any g.o or circular stating rcm applicability period for f y 1819 sir .. if so pls tell me sir

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8 Replies

CA Altamush Zafar (GST Consultant) (15907 Points)
Replied 19 July 2021

Which type of rcm are you asking about? Please elaborate.

Pankaj Rawat (GST Practitioner) (55030 Points)
Replied 19 July 2021

Yes RCM is applicable :
Refer Notification : 13/2017 CT (r)
,4/2017 CT (r), 24/2019 CT (r)

ayusmita (Tax consultant) (5885 Points)
Replied 20 July 2021

Agreed with Pankaj sir

N.V. Siva Ram Prasad (Accounts & Audit Assistant) (259 Points)
Replied 20 July 2021

Sir rcm on govt expenditure such as royalty dmf merit etc.. sir

Chartered Accountants ASPIRANT (28 Points)
Replied 20 July 2021

All services supplied by Government To the business entity are liable To tax under RCM except if such business entity is below threshold limit or Invoice amount is less than Rs5000

CA Akshay Hiregange (Partner - Audit & Assistance) (4515 Points)
Replied 20 July 2021

You may refer serial no. 47 of notification 12/2017-CTR for exemptions which could be available.

Services provided by the Central Government, State Government, Union territory or local authority by way of-
(a) registration required under any law for the time being in force;
(b) testing, calibration, safety check or certification relating to protection or safety of workers, consumers or public at large, including fire license, required under any law for the time being in force.

Also, there is a dispute on what can be called a tax or govt fee against 'registration' on which exemption could be claimed.

Pankaj Rawat (GST Practitioner) (55030 Points)
Replied 21 July 2021

Payment of royalty to GOVERNMENT is under RCM .

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 21 July 2021

He Central Government, vide Notification No. 13/2017-CT (R) dated 28.06.2017 and Notification No. 10/2017-IT (R) dated 28.06.2017, has burdened the business entities/ taxpayers to pay GST under the Reverse Charge Mechanism on the services received from the Government