Rcm
This query is : Resolved
09 October 2012
what kind of services considered under RCM (reverse mechanism ) please advise me.
12 October 2012
At present 12 services are covered under RCM. For details refer to Notification No 30/2012-St dated 20th June, 2012 wherein 10 services like sponsorship, payment of non residents, GTA, work contract etc under RCM were notified and Notif No 45 & 46 / 2012-ST dated 7th August, 2012 wherein 2 services were notified.
Concept of partial reverse charge has also been introduced for first time wherein both service provider and reciever are liable to pay tax proportionately as mandated....
Hope this would settle the issue...
Concept of partial reverse charge has also been introduced for first time wherein both service provider and reciever are liable to pay tax proportionately as mandated....
Hope this would settle the issue...
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