Service tax under rcm
Webrefund as input tax credit in GST/credit in electronic cash ledger/payment in cash. Thus, the relief cannot be stretched upon to a claim refund. • CENVAT credit is a concession: It was … Web2 days ago · The supplier on the basis of their convenience can charge GST as both has their pro and cons, if supplier charges GST @ 5% then the supplier cannot claim ITC and also if the recipient of service is a body corporate then the recipient would be liable to …
Service tax under rcm
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Web2 days ago · By introducing this service in the list of RCM, the supplier has been provided with the option of either charging GST @ 5% or 12%. The supplier on the basis of their … Web3 Jul 2024 · Section 24 (iii) of the CGST Act mandates a compulsory registration under the GST law in case of persons who are required to pay tax under RCM. Section 24 starts with …
Web14 Sep 2015 · the gross amount charged on consignments transported in a goods carriage does not exceed rupees on thousand five hundred or the gross amount charged on an … Web9 Mar 2016 · Sir, Notification No. 30/2012-ST dated 20.6.2012 as amended prescribes the percentage at which service tax is to be paid under RCM. This Notification prescribes at …
Web29 Aug 2014 · Service tax amount is Rs. 19600*50% = 9800. Total bill is Rs. 209800. In this case, TDS should be deducted on Rs. 2,00,000 if service tax is shown separately in bill. … Web4. The above said service provided to registered person was payable under RCM, vide Notification No. 05/2024 – CTR dated 13th July,2024 under serial no.5AA. Decision of …
WebFor example, if the tax rate on services provided by a GTA is 5%, then the tax rate under RCM on such services will also be 5%. Input Tax Credit Under RCM on Services. The recipient …
Web4. The above said service provided to registered person was payable under RCM, vide Notification No. 05/2024 – CTR dated 13th July,2024 under serial no.5AA. Decision of AAR 1. The Applicant is of the view that renting of residential dwelling to a registered person whether used for residential or for any other purpose will fall under RCM. indiana beach houseWeb30 Nov 2024 · The liability for payment of tax, in this case, will be determined as per Section 13(3) of the CGST Act, 2024 wherein provisions regarding determination of time of supply … loaded dice filmsWeb14 hours ago · Company Not Required to Service Tax under RCM on Rent paid to Directors for Leasing Out Premises in Their Individual Capacity: CESTAT Top Stories Company Not Required to Service Tax under RCM on Rent paid to Directors for Leasing Out Premises in Their Individual Capacity: CESTAT By Rasheela Basheer - On April 14, 2024 5:29 pm - 2 … indiana beach house phuketWeb17 hours ago · Subsequently notices were issued to the assessee then assessing officer had completed the assessment under Section 153C of the Income Tax Act, interalia by making addition of Rs.1,30,01,435/- on account of Long Term Capital Gains. Aggrieved assessee filed an appeal before CIT (A). indiana beach lake shaferWeb9 May 2015 · The RCM shall also be applicable on the service provided by the director of a company to that company. 100% service tax on the payment made by the company to its … indiana beach resortsWeb24 Feb 2024 · Registration Rules Under RCM. Section 24 of the CGST Act, 2024 states that a person liable to pay GST under the reverse charge mechanism have to compulsorily … loaded dice chartWeb6 Sep 2024 · The appellant had availed the services namely, GTA, Manpower Supply Agency, legal services, security agency services etc., for its business requirement and was liable to discharge the service tax liability under Reverse Charge Mechanism (RCM). indiana beach resorts for sale