The Problem Of GST RCM And Suggestion

CA Sudhir Halakhandi | Last updated: 26 December 2022

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The Goods and Services Tax (GST) in India, intended for simplicity, has introduced complexities like the Reverse Charge Mechanism (RCM). RCM requires the recipient of goods or services to pay tax instead of the supplier, which has led to numerous errors by taxpayers who failed to comply correctly. While RCM often has no financial implication as input tax credit is usually available, technical mistakes in its application can result in severe penalties, interest, and loss of input credit, creating an impractical burden.

GST was Introduced in India to make a convenient and simple indirect tax law for the taxpayers, but from the very beginning, some of such provisions were brought in this law, about which experts had warned in the beginning that these provisions will affect the simplification of GST Negatively and th

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About the Author

CA Sudhir Halakhandi

PRACTICING CHARTERED ACCOUNTANT

visit me at www.halakhandi.com or JUST TYPE SUDHIR HALAKHANDI ON GOOGLEOR ANYSEARCH ENGINE AND YOU WILL GET MY LOT OF WORK ON DIRECT/INDIRECT TAX. You can mail me at sudhir @ halakhandi.com

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