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Reverse charge mechanism
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i think continue
Reverse Charges Mechanism deferred till March 31,'18.
suspended upto 31.3.18
For all or turnover upto 1.5cr?
Is it means there is no need to pay rcm for the month of September and upto March?
yes...as it is suspended
Is Rs 5000 per day limit for RCM also suspended ?
rcm is only on above 5000
As RCM is defferd so limit of Rs 5000 will continue or not ?
I have not filed GST returns for July, August and September. Now the reverse mechnaism which I had to pay before has been deferred. Do I still need to pay reverse tax for previous months? I know I still have to file returns but do I need to also pay the reverse charge for July, August and September?
yes...even u can claim reverse charge in same month
Raman Singla @ I am sorry, I didnt understand that. Can you explain? Thanks.
Recommendation made by the GST Council in its 22nd Meeting held today under Chairmanship of the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley in the national capital.
Quote
6. 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 and will be reviewed by a committee of experts. This will benefit small businesses and substantially reduce compliance costs.
Unquote
Above recommendation is under consideration.
Quote
6. 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 and will be reviewed by a committee of experts. This will benefit small businesses and substantially reduce compliance costs.
Unquote
Above recommendation is under consideration.
Sorry, but that doesnt clear up my question.
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