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TMI BlogGST on Payments made to Collection AgentX X X X Extracts X X X X X X X X Extracts X X X X ..... GST on Payments made to Collection Agent X X X X Extracts X X X X X X X X Extracts X X X X ..... ded in respect of services supplied by a recovery agent to a banking company or a financial institution or a non-banking financial company, gst is payable under RCM by a banking company or a financial institution or a non-banking financial company, located in the taxable territory. Reply By Ganeshan Kalyani: The Reply: Services supplied by a recovery agent to a banking company or a financial ins ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... titution or a non-banking financial company: A banking company or a financial institution or a non-banking financial company, located in the taxable territory receiving service from a recovery agent shall pay tax under reverse charge. Reply By sumanta nayak: The Reply: Is RCM aplicable to daily deposit collection agents ? Reply By YAGAY andSUN: The Reply: In our view, yes GST is payable on Dai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly Collection under Reverse charge Mechanism. Reply By sumanta nayak: The Reply: If RCM is payable then under which clause of the notification? Reply By KASTURI SETHI: The Reply: Dear Querist, I think that you are not talking about Recovery Agent. The activities of recovery agent and collection agent are entirely different. The nature of collection agent can be likened to intermediary servic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e/ commission agent. Pl. elaborate your query. X X X X Extracts X X X X X X X X Extracts X X X X
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