RCM ON DIRECTOR SITTING FEES

21 June 2020

Is there any limit for RCM applicability on Director sitting fees or not. if we pay suppose Rs 500/- then whether RCM is applicable?

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4 Replies

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 21 June 2020

Under RCM there is no limit. You have to charge GST on 500/-

KRISSHNAN KP (4215 Points)
Replied 21 June 2020

There's no limit

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Shivam RC (Student) (23678 Points)
Replied 21 June 2020

There's No Limit for RCM in case of transaction specified for RCM incase of Notified Cases under Section 9(3) of the CGST Act 2017 [ Notification No. 13/2017 - CT ( Rate ), dated 28th June 2017 ].

Therefore GST would be applicable on Rs. 500 at the applicable rate under RCM basis.