Sir, kindly explain the status of Reverse charge Applicability under GST.
Thank you.
Menu
Reverse charge mechanism
Replies (3)
Tell me your business then we will discuss
The RCM provisions under GST are of two types
Type 1 RCM supply covered u/s 9(3)
Type 2 RCM supply covered u/s 9(4)
Type 1:
In this case Govt. will notify goods and services on which the tax is to be paid only on Reverse charge.
Type 2:
Inward supply from unregistered person.
Type 1 RCM supply covered u/s 9(3)
Type 2 RCM supply covered u/s 9(4)
Type 1:
In this case Govt. will notify goods and services on which the tax is to be paid only on Reverse charge.
Type 2:
Inward supply from unregistered person.
In addition to above , RCM on Inward Supply from Unregistered Person is applicable only on Developers/Promotor Subject to conditions prescribed in Notification 7/2019 CT (r) , effective from 1/4/2019
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
