What is rcm
Shunaiza Shaikh (28 Points)
29 January 2021
rcm is applicable in auto parts services in composition scheme.
1 Replies
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5146 Points)
Replied 29 January 2021
Reverse Charge Mechanism under GST is a mechanism under which the usual cycle of tax payment is reversed. ... Under Reverse Charge, the recipient pays to the supplier an amount exclusive of GST, the recipient then pays the GST directly to the Government. RCM is a complex concept that works in select scenarios only.
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