RCM practical Video - • Practical Aspect of RC...
📍In this session we have discuss about the concept of reverse charge mechanism RCM in GST along with Practical working of RCM. 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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Video Chapters
0:00 Intro to RCM
1:10 RCM in GST from URD purchase
1:28 Goods on which RCM applicable in GST
1:44 GST RCM on Cashew nuts
2:00 GST RCM on Bidi wrapper leaves
2:35 GST RCM on Tobacco Leaves
2:45 GST RCM on Silk Yarn
2:59 GST RCM on Raw Cotton
3:10 GST RCM on Lottery
3:28 GST RCM on used vehicle by government
4:10 GST RCM on Priority Sector Lending Certificate
5:39 RCM on GTA Services
11:17 RCM on Advocate Legal Services
12:58 RCM on Services by Arbitral Tribunal
13:16 RCM on Sponsorship Services
13:47 RCM on government Services
16:15 RCM on renting of immovable property by govt
18:38 RCM on renting of residential dwelling
21:58 RCM on transfer of development rights
22:20 RCM on long term lease
23:00 RCM on services by Director of company
23:52 RCM on services by director in personal capacity
24:44 RCM on service by insurance agent
24:55 RCM on service by recovery agent
25:06 RCM on transfer of copyright by composer etc.
25:37 RCM on transfer of copyright by Author
26:46 RCM on service by overseeing committee to RBI
27:04 RCM on services by DSA Agent
27:48 RCM on services by Business Facilitators
28:06 RCM on service provided by agent of business correspondent
28:25 RCM on Security Services
29:41 RCM on renting of motor vehicle
34:38 RCM on service of security landing scheme
35:11 RCM on services by NTT to taxable territory
37:29 RCM on Service of transportation of goods by vessel (ommited)
39:24 Outro
22 июл 2024
