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Reverse Charge

Sobhan (25 Points)

06 September 2017

Plz explain with example and sec and calculations... thn cn understand easily

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Archit Goel (Student) (96 Points)
Replied 06 September 2017

For example you take transportation service. Now in case of RCM, transporter will not charge GST and deposit rather you will directly Deposit GST to government on behalf of transporter

Kaushik Deepak (KD) (Officer Accountant) (1136 Points)
Replied 06 September 2017

1. Supply of certain goods and services specified by CBEC(18 services)

2. Services through an e-commerce operator

3. Supply from an Unregistered dealer to a Registered dealer( (Notification No.8/2017-Central Tax) )

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Kaushik Deepak (KD) (Officer Accountant) (1136 Points)
Replied 06 September 2017

Supply from an Unregistered dealer to a Registered dealer( (Notification No.8/2017-Central Tax) )

Exemption is on intra state taxable supply.
There is a limit of transaction value of Rs. 5,000/- per day:- means in case of supply more than Rs. 5,000/- per day, whole of such supply shall be taxable under reverse charge 9(4).
Limit is in respect of all suppliers:- This should be noted that the limit is not respect to one supplier.