GST RCM CHART


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	Blog Categories All Company Law (0) Due Dates (3) GST (2) Income Tax (1) Others (1) TDS - TCS Chart (3) Trust / NGO (1) GST RCM CHART Category: GST, Posted on: 06/05/2022 Visitor Count:905 Receipt of Legal services from Advocate. Security Services (services provided by way of supply of security personnel) provided by any person other than a Company to a registered person, then the receiver must pay GST under RCM. (Ex. Security Services provided by a proprietor whether registered or not.) Renting of motor vehicle to Company for transportation of passengers where the cost of fuel is included and charged from the company. (Any person other than a company providing the services to company and not charging GST @12% in the invoice, then receiver company must pay GST under RCM.) Any services received from Government or Government Agency. (Paying rent to Local authority/Municipality corporations, Payment of Licence fee, lease charges, royalty, etc, for assigning the rights to use the natural resources by the licensee companies to the Government, etc.,) Purchase of software from non-resident irrespective of whether payment made in INR or Foreign currency. Services provided by any person by way of sponsorship to any body corporate or partnership firm. Services supplied by a director of a company/body corporate to the company. However, if director is an employee of the company, then to the extent of the salary is exempted from GST, Hence the balance if any paid for services received is taxable under RCM. Company is under obligation to deduct TDS under section 192 as per income tax act for the salary payment and for other professional fees company must pay GST under RCM. We are already aware that Import of services are included in RCM, However Import of services without consideration from a related person or from any of his other establishments outside India, in the course or furtherance of business. Then receiver has to calculate and pay GST as per the provisions. Any service received by any person in India from any person located outside India (Import of Services from Nonresident). However, Freight on imports other than ocean fright has been exempted from GST (up to 30th Sep 2022), so GST on ocean freight payable on import is covered under GST. For other RCM payment please RCM notifications - IGST - Notification No. 10/2017- Integrated Tax (Rate) and CGST - Notification No. 13/2017- Central Tax (Rate). Disclaimer: The content of the blog does not create any responsibility of the firm / its authorized persons whose website is being accessed. The blog is not for legal use. Kindly verify the correctness of data/contents from your own sources. This is only for information purpose. Add a Comment Name: Your Comment: View Comments (0)

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