We received certain services from our overseas group company related with HR and Insurance.
Our group company has raised invoice on us in foreign currency.
My question is whether Tds and GST under RCM is applicable while we account for this invoices in our books.
please advise.
2 Replies
Bindu
(CA Final Student)
(112 Points)
Replied 18 March 2024
The location of the supplier of service being outside India and that of the recipient being in India, place of supply(POS) is to be determined as per Section 13 of the IGST Act. The said supply is not covered under sub-sections (3) to(13) and therefore POS is location of the recipient i. e in India. Hence GST under RCM is applicable on import of services from overseas group company
Recent Topics
- GST and income tax for freelancers
- Association of Persons (AOP) agreement format requ
- I passed CA inter Group2 under the wrong gender
- Additional place of business to change as main pla
- Section 142[1] of IT Act notice
- Document for address proof for change of address i
- Investment after maturity can convert as capital
- GST basics for a freelancer
- UNSECURED NCD BY NBFC
- Strict action against CAs and agencies who mislead
Related Threads
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
