GST
The GST Authorities with intent to bring into effect the amendments regarding Revere Charge Mechanism (RCM) on supplies by unregistered persons in the GST Act have rescind its earlier notification No. 8/2017-Central Tax (Rate) dated 28.06.2017. Revere Charge Mechanism u/s 9(4) and 5(4) will be applicable again with effect from 01.02.2019. RCM applicable without any exemption limit wef 01-02-2019 for a class of registered persons in respect of supply of specified categories of goods or services or both received from an unregistered supplier as per the amended section 9(4) of CGST Act. However, the authorities are yet to notify the class of registered persons and specified categories of goods. The RCM shall be applicable only after the notification of specified dealers or specified goods or services.
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