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Rcm applicable on

Mohit Bhasin (Accounts) (37 Points)

08 June 2019

OTHER THEN PURCHASE ON WHICH DIRECT OR INDIRECT EXP. RCM APPLICABLE AND ON WHICH RATE.

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2 Replies

Kartik Jain (student) (219 Points)
Replied 08 June 2019

Supply of services under reverse charge mechanism under:

S. No.	Descripttion of supply of Service	Supplier of service	Recipient of service	Notification No.
1	GTA Services [who has not paid central tax at the rate of 6%]	Goods Transport Agency (GTA)	Any factory, society, cooperative society, registered person, body corporate, partnership firm including LLP, casual taxable person; located in the taxable territory	Notification No. 13/2017- Central Tax (Rate) dt 28th June, 2017 ¹Inserted vide Notification no 22/2017- Central Tax (Rate) dt 22^nd August, 2017
2	Legal Services by advocate	An individual advocate including a senior advocate or firm of advocates	Any business entity located in the taxable territory	–do–
3	Services supplied by an arbitral tribunal to a business entity	An arbitral tribunal	Any business entity located in the taxable territory	–do–
4	Services provided by way of sponsorship to any body corporate or partnership firm	Any person	Any body corporate or partnership firm located in the taxable territory	–do–
5	Services supplied by the Central Government, State Government, Union territory or local authority to a business entity excluding, – (1) renting of immovable property, and (2) services specified below- (i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Central Government, State Government or Union territory or local authority; (ii) services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport; (iii) transport of goods or passengers.	Central Government, State Government, Union territory or local authority	Any business entity located in the taxable territory	–do–
5A	Services supplied by the Central Government, State Government, Union territory or local authority by way of renting of immovable property to a person registered under the CGST Act, 2017	Central Government, State Government, Union territory or local authority	Any person registered under the CGST Act, 2017	Inserted vide Notification No. 3/2018 – Central Tax (Rate) dt 25.01.2018
6	Services supplied by a director of a company or a body corporate to the said company or the body corporate	A director of a company or a body corporate	The company or a body corporate located in the taxable territory	Notification No. 13/2017- Central Tax (Rate) dt 28th June, 2017
7	Services supplied by an insurance agent to any person carrying on insurance business	An insurance agent	Any person carrying on insurance business, located in the taxable territory	–do–
8	Services supplied by a recovery agent to a banking company or a financial institution or a non-banking financial company	A recovery agent	A banking company or a financial institution or a non-banking financial company, located in the taxable territory	–do–
9	Supply of services by an author, music composer, photographer, artist or the like by way of transfer or permitting the use or enjoyment of a copyright covered under section 13(1) (a) of the Copyright Act, 1957 relating to original literary, dramatic, musical or artistic works to a publisher, music company, producer or the like	Author or music composer, photograph her, artist, or the like	Publisher, music company, producer or the like, located in the taxable territory	–do–
10	Supply of services by the members of Overseeing Committee to Reserve Bank of India	Members of Overseeing Committee constituted by the Reserve Bank of India	Reserve Bank of India.	Inserted vide Notification No. 33/2017 – Central Tax (Rate) dt 13.10.2017