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A Quick Overview of Reverse Charge Mechanism

Service Tax - By: - VSV & Co VSV & Co - Dated:- 3-9-2016 - Service Tax - Reverse Charge Mechanism ( RCM ) What is RCM? Service tax is an Indirect Tax levied by Service provider on Service Receiver on value of services. Normally, Service tax is paid to the Government by Service Provider. However, specific provisions of Service Tax makes persons other than service provider liable to pay service tax. Certain Provision makes it mandatory to pay part of tax to be paid by service receiver and part by .....

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e 2012). Which are the Services on which RCM is applicable? Following services are covered under RCM/partial RCM under Rule 2(2)(d)(i) of Service Tax Rules, 1994 read with Notification No. 30/2012-ST: Insurance Agent Service (Banking) Recovery Agent Service Goods Transport Agency Service Sponsorship Service Legal Service Arbitral Tribunal Service Services by Directors of the body corporate to the body corporate Support Services provided by Government/Local Authority Rent-a-Cab Service Manpower S .....

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