We have taken rented one guest house.Rent bill dated 01/07/22 and accounted on 02/07/22 , payment made on 20/07/22
RCM on dewelling premises is
applicable from 18/07/22
But here bill is received for july on 01/07/22
As per provision of service rule, is RCM applicable or not though bill & accounting is before 1807/22
6 Replies
Rajkumar Gutti
(591 Points)
Replied 19 August 2022
My question is ,we have recceived bill for rental guest house bill date before 18/07/22 ,and rcm gst is applicable w.e.f.18/07/22 .Is rcm is liable to pay. what is the point of taxation
CS Advocate Abhishek Goyal
(M Com FCS LLB M-AIMA )
(13706 Points)
Replied 19 August 2022
| Originally posted by : Rajkumar Gutti | ||
 |
My question is ,we have recceived bill for rental guest house bill date before 18/07/22 ,and rcm gst is applicable w.e.f.18/07/22 .Is rcm is liable to pay. what is the point of taxation
In this case time of supply under section 13(3) will apply. |
 |
Rajkumar Gutti
(591 Points)
Replied 19 August 2022
Date of bill & date of accounting is before 18/07/22 payment is made on 19/07/22.
As per notification 5/2017 RCM is applicable w.e.f. 18/07/22
So is Rcm liable for above particulars
As per notification 5/2017 RCM is applicable w.e.f. 18/07/22
So is Rcm liable for above particulars
CS Advocate Abhishek Goyal
(M Com FCS LLB M-AIMA )
(13706 Points)
Replied 20 August 2022
Time of supply is relevant for the purpose of determining the liability to pay tax. in case of reverse charge services according to section 13(3) time of supply will be 19.07.2022 being earlier of
date on which payment is made
or
date immediately following 60 days from the date of issuance of invoice
So accordingly liability to pay RCM arises after 18.07.2022 i.e when RCM notification was made effective so RCM is payable
sabyasachi mukherjee
(27574 Points)
Replied 21 August 2022
Pivotal point is what is essential.
rcm arises after 18.07.22
for furtherance of business rcm is applicable.
rcm arises after 18.07.22
for furtherance of business rcm is applicable.
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