Should we discharge GST liability for all reverse charge having small amounts of Transaction or any amount limit is there?
4 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 18 March 2021
Reverse charge is applicable on all the items which are registered under RCM irrespective of amounts. No limit is there
sabyasachi mukherjee
(27574 Points)
Replied 18 March 2021
Reverse Charge is applicable for all persons.
anil jain
(Partner)
(1072 Points)
Replied 18 March 2021
RCM is applicable only on the services and goods included in the related notifications and not on all services and goods.
But there in no threshold limit.
sabyasachi mukherjee
(27574 Points)
Replied 18 March 2021
Reverse charge is not applicable for all persons
it was a wrong post.
however pls note the following
procedure for reverse charge
1. a registered person who is liable to pay tax under Sec 9 (3) or Sec 9 (4) shall issue a invoice.
.
2. in case there is receipt of goods and services by registered supplier from unregistered supplier.
then igst will be applicable in respect of specified categories of goods and services as may be notified by the govt from shall apply to such recipient.as if he is the person liable for paying tax in relation to such goods and services.
registration under Sec 24 (111) is applicable.
it was a wrong post.
however pls note the following
procedure for reverse charge
1. a registered person who is liable to pay tax under Sec 9 (3) or Sec 9 (4) shall issue a invoice.
.
2. in case there is receipt of goods and services by registered supplier from unregistered supplier.
then igst will be applicable in respect of specified categories of goods and services as may be notified by the govt from shall apply to such recipient.as if he is the person liable for paying tax in relation to such goods and services.
registration under Sec 24 (111) is applicable.
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