![]() Let’s have a detailed discussion regarding these scenarios:Ī. Also, sections 5(3), 5(4) and 5(5) of the Integrated GST Act govern the reverse charge scenarios for inter-state transactions. Section 9(3), 9(4) and 9(5) of Central GST and State GST Acts govern the reverse charge scenarios for intrastate transactions. Find out the business constitution of any GST number using the GST search tool. Only certain types of business entities are subject to the reverse charge mechanism. ![]() The objective of shifting the burden of GST payments to the recipient is to widen the scope of levy of tax on various unorganized sectors, to exempt specific classes of suppliers, and to tax the import of services (since the supplier is based outside India). Under the reverse charge mechanism, the recipient of goods or services becomes liable to pay the tax, i.e., the chargeability gets reversed. Typically, the supplier of goods or services pays the tax on supply. All about Reverse Charge Mechanism (RCM) under GST.Mixed Supply & Composite Supply under GST.Terms and phrases you must know under GST- Part I.Sections 206AB and 206CCA of Income Tax: Analysis, Applicability and FAQs.: Government Website for GST Portal Online. ![]() Types of GST applicable on E-Commerce Sales.Eway Bill – What is Eway Bill? E Way Bill System, Rules & Generation Process Explained.GST Rates in 2022 – List of Goods and Service Tax Rates, Slab & Revision.GST Return – What is GST Return? Who Should File, Due Dates & Types of GST Returns.GSTR 9C : Reconciliation Statement & Certification- Filing, Format & Rules. ![]()
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