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RCM ON DIRECTOR SITTING FEES
Is there any limit for RCM applicability on Director sitting fees or not. if we pay suppose Rs 500/- then whether RCM is applicable?
Replies (4)
Quick Summary
Under RCM there is no limit. You have to charge GST on 500/-
There's no limit
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.
Therefore GST would be applicable on Rs. 500 at the applicable rate under RCM basis.
There is no limit prescribed in Notification 13/2017 CT , hence RCM is applicable .
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