Reverse charge mechanism
This query is : Resolved
08 January 2019
As per para 14 of Notification No29/2018 - Central Tax Rate, RCM has been made applicable to any person other than Body Corporate for Security services.
Since most of the Security services providers are Pvt Ltd, LLP, OPC or Proprietorship companies they are "Body Corporate". If so, Notification No. 29/2018 will not be applicable to almost all security service providers.
Could some one kindly clarify.
Since most of the Security services providers are Pvt Ltd, LLP, OPC or Proprietorship companies they are "Body Corporate". If so, Notification No. 29/2018 will not be applicable to almost all security service providers.
Could some one kindly clarify.
08 January 2019
Yes, RCM is not applicable to the security service providers who are body corporate. They need to discharge GST liability by themselves.
08 January 2019
A body corporate shall include: a company, a foreign company, a corporation, a statutory company, a statutory body, an LLP, etc. and such bodies that have separate legal existence.
08 January 2019
If the RCM under the said Notification is not applicable to a Body Corporate, this notification has no meaning since all security service providers are Body Corporate.
08 January 2019
If the RCM under the said Notification is not applicable to a Body Corporate, this notification has no meaning since all security service providers are Body Corporate.
08 January 2019
Can someone kindly explain the likely objective behind the Notification on RCM for security services, if Body Corporate is excluded from the benefit of RCM.
Thanks
Thanks
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