RCM means where receipent of goods & service pay tax. on . under GST Act there is list where reciepent is liable to pay tax. some example are. legal service,( both advocate & arbitral terbunal,) goods trnspt. agency, insurance agent, director non govt. non executive service,etc. one other point also include that if a registered person recd. a supply from unregistered more than 5k per day. is also liable to pay tax under rcm. Although if payment is made will hit electronic cash ledger and of not paid adjust with output liability. hope it will help. Thnks.
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