RCM ON FREIGHT BY COMPOSITE

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8 Points Posted on 21 January 2022
RCM on freight by a composite dealer is payable or not ?
if yes, what is rate of tax
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On 21 January 2022 at 14:06 Report
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Quick Summary
This discussion clarifies whether the Reverse Charge Mechanism (RCM) is applicable to freight services provided by composite dealers. The consensus is that RCM is indeed payable in such cases. The applicable tax rate for RCM on freight by a composite dealer is 5%.

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GST Practitioner
55067 Points Posted on 21 January 2022
Yes ... need to pay RCM @ 5%
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On 21 January 2022 at 23:13
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Chief Accountant
3150 Points Posted on 29 January 2022
Yes, RCM applicable
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On 29 January 2022 at 16:14

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