09 March 2021
Where it is opted for concessional rate of GST 1% / 5%, the 80% of the procurement of goods and service* should be from the registered supplier. In the event, the above procurement* is less than 80% in a financial year, the GST at the rate of 18% shall be paid on shortfall under RCM. Such liability shall be added to the output liability of any month not later than June of the subsequent year.
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