Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News
Highlights
D. Forum
What's New
Sub-Menu

Share:      

        Home        
 
Discussions Forum
Home Forum Goods and Services Tax - GST This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

RCM supply, Goods and Services Tax - GST

Issue Id: - 116887
Dated: 3-12-2020
By:- vignesh VSACCOUNTOPRIVATELIMITED
RCM supply

  • Contents

sir there are two terms used under RCM applicable for services and they often create little confusion. " Any business entity located in the taxable territory", "A registered person, located in the taxable territory". what do these two terms indicate! why they are interchangeably used!

Post Reply

Posts / Replies

Showing Replies 1 to 2 of 2 Records

1 Dated: 4-12-2020
By:- KASTURI SETHI

Both terms indicate as under:-

"Any business entity located in the taxable territory",

Not only for the purpose of RCM otherwise also two conditions should be qualified : The supply should be in the course or furtherance of business and it should be in taxable territory. If the supply is made from 'B' to 'C' RCM will not be applicable and tax will be paid under FCM. There are other examples also ; if supply is made to Govt., RCM is not applicable as supply to Govt. is not B to B. The condition of 'taxable territory' is common for all kinds of supplies for levy of GST.

"A registered person, located in the taxable territory".

It is very much clear that any person registered with GST department is a business entity and also falls in a taxable territory. Here for the purpose of RCM, a registered may be Proprietorship, Individual, Pvt. Ltd., HUF etc.

Regarding the usage of these terms interchangeably, it depends upon specific conditions laid down in a notification for the purpose of levy of GST under RCM..


2 Dated: 5-12-2020
By:- Ganeshan Kalyani

I agree with the views of Sri Kasturi Sir.


1

Post Reply

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||