RCM in case of Goods

In GST Tax Regime Reverse charge is applicable to Supply and supply includes both i.e. Goods as well as Services, If we talk about RCM in case of Goods then the recipient of goods is liable to pay tax under RCM scheme ,hence we can say that it is the different tax system than the normal system which are not in any previous tax regime hence the tax calculation and tax payment system is differ form others so here we discuss the Time of supply as per sub- section 3 of section 13 of the Act and the cases where the RCM is applicable as per notification issue by Govt. on recommendation of the council under GST, where the recipient who is liable for pay tax, of the goods and supplier of Goods and Particulars of goods which are liable for RCM.

Time of Supply under Reverse Charge

Section 12(3) time of supply in case of RCM

Time of supply shall be Earliest of following dates in a) or b) or c):

a) The Date of the Receipts of Goods
b) The Date of payment as entered in to Books of Account or Payment which is earlier *
c)The Date immediately following 30 days from date of issue of invoice or any other documents or any other proof valid , by supplier

Proviso Provided that if Time of supply not decided with help of above section then date of supply is Entry in books of Accounts of recipient of supply

*This point is no more applicable based this Notification No. 66/2017 – Central Tax issued on 15.11.2017

Following are case of RCM in case of Goods under notification No. 4/2017-CT/ 13/2017-UTT and 10/2017 of IT.

Lottery from State or UT/ Local Authority to Agent then Agent is liable to pay tax at that time GST is 12% but not from others at that time GST is 28%.

For Services : http://etaxupdates.com/rcm/