Reverse Charge Mechanism Under GST | What is Reverse Charge in GST ? Reverse charge on specified Goods & Services Section 9(3) of CGST/SGST acts provides that, Government may specify categories of supply of goods or services which shall be paid on reverse charge basis i.e. tax shall be paid by the recipient of such goods or services.…Read More Reverse Charge Mechanism For Specified Goods & Services
1. What is Reverse Charge? Normally, the supplier of goods or services pays the tax on supply. In the case of Reverse Charge, the receiver becomes liable to pay the tax, i.e., the chargeability gets reversed. 2. When is Reverse Charge Applicable? 2.1. Supply from an Unregistered dealer to a Registered dealer If a vendor…Read More Reverse Charge Mechanism Under GST | What is Reverse Charge in GST ?
MEANING- Reverse Charge Mechanism under GST : It implies recovery of tax from the recipient of goods or services or both, instead of the supplier. “As per section 2(98) of CGST Act’2017, “reverse charge” means the liability to pay tax by the recipient of supply of goods or services or both instead of the supplier…Read More Reverse Charge Mechanism under GST