Concept of RCM in GST | Reverse Charge Mechanism
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- เผยแพร่เมื่อ 8 ก.ค. 2024
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📍In this session we have discuss about the concept of reverse charge mechanism RCM in GST. Generally, the supplier of goods or services is liable to pay GST. However, in specified cases like imports and other notified supplies, the liability may be cast on the recipient under the reverse charge mechanism. Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply. There are two type of reverse charge scenarios provided in law. First is dependent on the nature of supply and/or nature of supplier. This scenario is covered by section 9 (3) of the CGST/SGST (UTGST) Act and section 5 (3) of the IGST Act. Second scenario is covered by section 9 (4) of the CGST/SGST (UTGST) Act and section 5 (4) of the IGST Act where taxable supplies by any unregistered person to a registered person is covered.
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⏰Time Stamp
0:00 Intro to topic
1:24 Concept of RCM
12:07 Types of RCM in GST
12:57 GST Registration in case of RCM liability
14:12 Can a supplier of RCM claim ITC?
15:41 Time of Supply in GST
29:11 Compliance in respect of RCM
31:23 Payment of RCM through Cash Ledger
41:19 Goods under RCM
49:09 Services under RCM
54:20 RCM for GTA Services
1:18:44 Outro
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Sir Rcm jaise difficult topic ko apne bahut hi aasani se explain kara hai. Bahot bahot dhanyawad sirji.
Thanks sir This is very useful to understand RCM in simple way
Thank you sir! for such knowledgeable information
Excellent way to simplify and make understand.
Sir You r so hardworking thankyou so much
thankyou so much sir for this wonderful session
Thank u sir....really helpful
Very well explained thanks a lot
Great explanation
Really great presentation!
Great explanation sir
Thank you sir.
Excellent sir 👍👍
Awesome video 👍👍👍👍 sir
good sir pura samj ay gya aj RCM aise he krte raho
great explanation sir, pls make a video on TDS and TCS under GST law.
Thank u Sir....
Thank you sir
Super Presentation
Tqsm sir
Sir please make a practical video on RCM on gst portal
Sir
Is rcm applicable if lawyer provides any title valuation services
can we avail set off RCM payment from Electronic cash Ledger. If so what is the procedure in the GST portal. Please advise
sir i have become fan of your simplicity and knowledge level
Appreciate your support
Sir please clear if I am supply security service to a unregistered business, which is a RCM supply. can I charge GST on this invoice? because the recipient will not pay the tax to govt.
super 💯✌
Hi Can you tell me whether How to generate RCM invoice for Sale of TDR , Should it be bill of supply or 18% /12% /5% RCM invoice , the value and time of supply is future date not known at the time of sale of TDR ( transfer of development rights ) . The value of transaction is huge in each case and rate , time and amount of supply can not be determined on date of sale. Pl tell me how to show it in GSTR 1 of the supplier
32:00 jee sir, Paytm k wallet se refund aa jata hai lekin kuch % kaat lete hain, 4% ya 5% charge hota hai Normally
can we avail1set off RCM payment from Electronic cash Ledger ?
Normal Charges Time of supply
if i have taken service from unregistered person for GTA service whether RCM applicable or not ?
Sir in gst concept I always need
Sir next mnth rcm ka itc kisi v lia ko pay kr skte h i.e igst , cgst, sgst
Sir gst online portal pe fill karna only ca he work kar ty hi ky ?
If transporter charged gst in their invoice, in that case receipent should pay rcm or not
Sir, meri sale rcm wali h jo maine R1 me dikha di h ab muje hsn summery dalni h usme taxable value under 5% GST me show krni h ya 0% Rate me bcz hsn summery me rcm wala option to hota nhi h
Sir computax software mai kaese tds pay hota h voh video bnaye
10.55
Sir, mr. Sushil 9000 credit nahi milega agar RCM sale hai, agar kuch rcm sale ho aur kuch ka Fcm ho usi item ka out of that, so will he be eligible for claiming itc on FCM sale only ?
sir.is there any time limit to claim itc under rcm? pls reply
Respected Vivek Sir,
39:58 Why we can't claim RCM Input Tax Credit On Same Month We Paid Tax. Kindly Please Provide Your Guidance.
There is a dispute in this point.
Because the basic condition is that tax on RCM must be paid before claiming ITC on RCM.
Some professionals are in opinion that it can be claim in same month as the tax on RCM is paid in same month.
On the other hand after making payment and offset the liability we can't change the figures of current month 3B. Thus practical we can avail the input in next month 3B.
We have disuss the second point of view in video.
Sir Labour payment me rcm lagega ya nhi??
Hello sir,
Service main point number 10.
Main GST 10000 exporters ko bhi diya, or 18000 RCM government ko bhi. Please clear this point.
Sir i am a registered person if i purchase goods from unregistered dealer.. ,which are not notified in sec 9(3) and 9(4)
.
Is iam liable to pay tax under reverse charge
How can I get this study material?
Awesome... starting is good.... 👍....but ending is... 🥱....which affect video
sir transportation pr limit kitni h
One Quarry if we suppose Mr. Sushil purchase 1 lakh goods in normal charge mechnizeum but only 50% goods supply under RCM so ITC should be blocked only on 50% Amount na is yes or wrong.
Sir, plz section k sath btao kro... Like .section 9(3) then start will be 9(4)
Can we download your notes?
Pls provide notes sir
Why vehicles hiring and security services are not included in this chapter?? Does this services charged under RCM ?
Hi Mayur,
Those services are added afterward via notification.
We have covered those in seperate session.
Sir, as per section 24, a recipient has to get himself registered compulsorily if he is receiving goods or services under RCM irrespective of his turnover. However, in the table we studied in this video only registered persons are mentioned in recipient column. It is confusing. Please clarify this.
If a person purchases goods or services covered under RCM then he will have to obtain GST no then he will become registered person
@@dhananirealtybank2777 so if I as a consumer purchases any goods or services under RCM, I have to take registration ? Let's say I want to transport my motorcycle through GTA, shall I have to take registration ?
@@gopalkothari5626 NO.IF ANY OF THE PERSONS WHO ARE MENTIONED IN THE TABLE TAKE SUCH SERVICES OR GOODS (OTHER THAN REGISTERED PERSON) & IF THEY ARE NOT REGISTERED UNDER GST,THEN THEY WILL HAVE TO OBTAIN GST REGISTRATION.
There must be furtherance of businesses...
A normal person who purchases bike for his own use is not doing it in the furtherance of business..
But if you are a trader whi buys bike and sells it.. then he have to take registration no matter what his turnover is.
agar sir adavance m paise na diye ho to date fir kon si hohi
Sir let suppose 30th August ko 50k advance diya kisi invoice k against jiska invoice value hain 80k. Supplier ne invoice diya 5th Oct ko par goods receive hua 6th Oct ko. Rest 30k payment hua Dec ko. Isme tax kitne amount ka kaun se month pe RCM hoga?
Please answer sir. @fintaxpro
Gst bill reverse kaise hoga
But in Odisha, if the taxpayer is under state jurisdiction, nobody can get the refund from cash ledger without paying some amount to the officer.
Play game by your brother as non taxable receipent and paid, then representative in india of foreign service provider , has to pay RCM in electronic cash ledger and claim ITC next month
सर मेने किसी अन रजिस्टर्ड पर्सन से used material buy किया । और उसे रिपेयर करके sale कर दिया। जिसका मेने gst invoice दिया है। अब उस मटेरियल का RCM bill बनाना होगा या कुछ और ऑपशन है।
Please provide the link of notes which you are referring to. It would be a great help.
it is sonal babbar book
Sir why we have to pay tax on rcm only in cash what is the logic behind this ,why we cannot claim credit from itc in case of rcm supplies
To get credit you need to pay GST. In case of RCM you pay and get ITC at the same time.
Sir I am registered in composition scheme.and I am manufacturer of furniture. I purchased woods and iron Kil from Unregister supplier . Am I liable to pay RCM?
Yes
@@debabratasadhukhan7181 kis section ke anusar ?
कुछ लोग कहते है की नही पे करना है। कुछ कहते है की पे करना है। समझ नही आ रहा है क्या करू🤔
Mr. Shuuushil😄
Where download nots of RCM please tell me 😢
Join our telegram group for notes t.me/fintaxpro
ITC AVAILABLE FOR RCM PAID
IN SUCH CASE,WHATS THE POINT OF PAYING RCM FIRST & THEN TAKING CREDIT
Sir ITC explained here is wrong inthe case of RCM for MR. Susheel. He will get ITS on purchases only
ITC will be available to Mr Sushil only for supplies other than RCM outward supply
Please mark the time.
I will recheck and thanks for your valuable feedback
Sir MR sushil ki NCM at the time of purchase jo hai voh RCM mein kab convert ho sakti hai at the time of supply by Mr sushil?? example please,,, I am confused a lot
Ram ram
Vedios NO vide hote to acha lagega
GST NOT APPLICABLE ON TABACCO , WHY RCM APPLICABLE ON THAT
Why we are paying rcm liability from cash I know it's mention in law.
But there is one reason.. So think big and reply....
Any one can reply if any ca master mind
From
Sandeep
M. Com, ifrs, cs inter
I am consumer. I am not a business man and do not have gst number. I buy goods from a unregistered seller who is selling only in cash and not giving bills to me. Who will be liable to pay gst and/or will be culprit under gst law. Please confirm.
When you both, the supplier and receiver are not registered in GST Act ,where you are going to deposit tax ?? How you are going to deposit tax??
If any company which produces the music located in Non Taxable Territory hires a rapper like Emiway In this case Emaiway is not a registered person would he be liable to pay tax.
No.
What if they company of Emiway who registered person must be liable to pay tax under NCM
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Aap mujhe bata saktein hai ki kya fayda hai RCM ka...Govt. of India and Suppliers/Recipients...Faltu ka time pass hota... Accounts ka bhi achha time pass bhi... Final result is BIG ZERO...?????
Sir aap jo bol rahe ho ki agle mahine input le lenge wo kayse lenge 🙄🙄
GST ON WORKS CONTRACTS
Air-Condition install karvaalo bhai apne room me.. Paseena poch na tho bandh hoga.
Aare sir ek bat btao aap 50000 pr 18% gst lga rha ho to aapko sidhe sidhe pta hona chahiye 9000 hoga fir Esme calculator ki kya jarurat hai logic use kro na sir aap video aa66e bnate ho smjhane ka tarika bhi aachha hai mai kabhi kisi ko TH-cam pe comment nhi krta but aapko kr diya mujhe aachha lga
@pdeepkamal
Delhi india🇮🇳🇮🇳
Jab calculator pass m hota h tab dimag nahi chalta
Thanks sir