Total bill amount of an advocate is Rs 8500 /-. Amount paid to the advocate is Rs 7650/- after deducting 10 % TDS.
RCM to be charged on Rs 8500/- or Rs 7650/-.
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RCM charging
Replies (3)
RCM to be charged on the Transaction Value i.e. Rs. 8,500/-
Point 1 : As per the Provision of Section 15(1) of the CGST Act 2017, GST is levied on the "TRANSACTION VALUE."
Point 2 : As per the Provision of Section 15(2) clause (a) of the CGST Act 2017, Transaction Value includes any taxes, cess, duties etc which are charged under any law for the time being in force. Thus TCS, TDS, Basic Customs Duty, etc needs to be included in the Transaction Value.
Regards,
Shivam RC.
Point 1 : As per the Provision of Section 15(1) of the CGST Act 2017, GST is levied on the "TRANSACTION VALUE."
Point 2 : As per the Provision of Section 15(2) clause (a) of the CGST Act 2017, Transaction Value includes any taxes, cess, duties etc which are charged under any law for the time being in force. Thus TCS, TDS, Basic Customs Duty, etc needs to be included in the Transaction Value.
Regards,
Shivam RC.
Yes it is true
Can issue Debit Note for Rs 850/- & on Rs. 7650/- the RCM can be done .
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