10 November 2020
Reverse Charge Mechanism ( RCM ) on Purchase from Unregistered Dealer [ Section 9(4) of the CGST Act 2017 ] is now applicable only on "Specified Goods or Services" procured by "Specified Person" from Unregistered Dealer. Section 9(4) has been amended vide the CGST Amendment Act 2018.
As of now only transaction related to "REAL ESTATE SECTOR" is covered under RCM on Purchase from URD. Promoter / Developer is a notified person. For example, if a Developer purchases Cement from an URD, then the developer is liable to pay tax @ 28% under RCM by virtue of Section 9(4).
So aapko RCM ma tax nahi jama dena parega...
And isska reporting aapko TABLE No. 5 [ Value of Exempt, Nil Rated and Non GST Inward Supplies ] of FORM GSTR-3B me karna parega...