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RCM section 9(4)
which are those specified goods or services, the tax on which is paid under RCM in section 9(4). kindly provide the name .
Replies (3)
Freight
Freight, i.e. GTA services are covered under Section 9(3).
9(4) - presently real estate sector has been classified for discharging liability on URD purchases and cement purchases based on certain conditions as per notification - 07/2019-Central Tax (rate)
In Addition to Reply by CA Akshay :
As per Notification 7/2019 CT (R) , Minimum 80% procurements of Input(goods) /Input Services from Registered dealer else on short fall the RCM is applicable. But after that Notification 24/2019 CT (R) being issued the limit of 80% on cement done to 100%
Notification 7/2019 CT (r) also includes capital goods (100% procurement from Registered dealer else RCM applicable)
In short For Cement & Capital Goods the minimum limit is 100%
As per Notification 7/2019 CT (R) , Minimum 80% procurements of Input(goods) /Input Services from Registered dealer else on short fall the RCM is applicable. But after that Notification 24/2019 CT (R) being issued the limit of 80% on cement done to 100%
Notification 7/2019 CT (r) also includes capital goods (100% procurement from Registered dealer else RCM applicable)
In short For Cement & Capital Goods the minimum limit is 100%
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