As Decided in 22nd GST Council Meetimg Reverse Charge Is Postponed till 31-3-18.
My Question is that Purchase from Regfstered GTA is still Under RCM or Not.
5 Replies
Arun Kumar Singh
(GST Advocate)
(15220 Points)
Replied 07 October 2017
The reverse charge mechanism under sub-section (4) of section 9 of the CGST Act, 2017 and under sub-section (4) of section 5 of the IGST Act, 2017 shall be suspended till 31.03.2018 but GTA is not covered in this section.
Kishor Agrawal
(Accounts Consultant)
(71 Points)
Replied 07 October 2017
Arun ji,
It means services from GTA is still under RCM?.
Please know me, what suspended RCM is only for turnover up to 1.50 crore or for all.
It means services from GTA is still under RCM?.
Please know me, what suspended RCM is only for turnover up to 1.50 crore or for all.
Nikhil
(41 Points)
Replied 07 October 2017
rcm for gta is still valid and also a gta is exempted from registration under gst
harsh
(Business)
(105 Points)
Replied 08 October 2017
The reports and and some news houses are reporting That this relief is for small taxpayers (belowe 1.5crore only). People above 1.5crore turnover have to pay RCM whatsoever. Is it true.?
Nikhil
(41 Points)
Replied 08 October 2017
1.5 crore slab is for quarterly return
rcm under section 9(4) is suspended in which what used to happen is that when registered person purchased service/goods from unregistered deler then the registered person had to pay gst under reverse charge because the unregistered person cannot deposit tax to govt. This was a headache for the registered delers. So this is suspended. Means now if a registered person buys something from unregistered person he is not liable to pay gst under rcm.
GTA and many more services are under section 9(3) which is still there and thus rcm is applicable for gta.
there is no concept of tunover pf 1.5crore in rcm.
Simply speaking a GTA will be doing the business same as it used to do under service tax. Till now gta is not at all affected by gst
rcm under section 9(4) is suspended in which what used to happen is that when registered person purchased service/goods from unregistered deler then the registered person had to pay gst under reverse charge because the unregistered person cannot deposit tax to govt. This was a headache for the registered delers. So this is suspended. Means now if a registered person buys something from unregistered person he is not liable to pay gst under rcm.
GTA and many more services are under section 9(3) which is still there and thus rcm is applicable for gta.
there is no concept of tunover pf 1.5crore in rcm.
Simply speaking a GTA will be doing the business same as it used to do under service tax. Till now gta is not at all affected by gst
Recent Topics
- Retrospective effect of Section 12A.
- TDS on rent above Rs.5000 pm
- DONATION REG
- A builder or Developer has to receive completion c
- TDS paid 5% instead of 2%
- Whether deduction u/s 43B available post conversio
- B2B Invoice Ammendment
- Foreign bank charges
- Net worth certificate for Joint Owners
- Investment Strategy to avoid Capital Gain in case
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
