Updated RCM List in GST from Oct 2023 ft

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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

Пікірлер: 68

@prithvirajmudappu3717 5 ай бұрын

Thanks for the information and updates regards

@gurugantaal5782 8 ай бұрын

Very Very Helpful Video ...

@darshannavalakha614 9 ай бұрын

CBhaiya Loved your content Please make Video on GST for Construction and GSTR9 and GSTR9C for the same

@sandeeprawatdilse...5249 8 ай бұрын

good job

@AnkitKumar-ip1jd 4 ай бұрын

Sir agar rcm wale gta se service liya then pehle regn karwaye ya after service regn krwana mandatory hai. And regn ke baad naye service pr gst bharna hai ya jo first time liya tha us pr bhi gst bharna hai

@priyankanath6404 8 ай бұрын

Sir , kindly help with below scenario Ocean freight export to from India to foreign customer 5% gst should charge or not ,if charge is it under RCM basis or not kindly clarify

@commerceclass8788 7 ай бұрын

❤

@XPO_RONGER 4 ай бұрын

What about RAW material? We purchase raw materials from people directly like wood logs. Then what should I do?

@girishkulkarni9765 4 ай бұрын

Regarding renting of Immovable property by government, it's explained while discussing Sr. No. 5 that RCM not applicable and govt will charge in Forward Charge (14:19). Sir pls revisit your observation. RCM very much applicable it's just that this entry is covered in exclusions and covered elsewhere in RCM only

@anjalijain4626 4 ай бұрын

Sir forward charge kya hota hai and kaise check kar sakte hai ki forward charge me register hai ya nhi or kya aisa bhi ho sakta hai ki koi forward charge me register ho but gst charge na kre tab bhi kya hum uska rcm pay krna hoga

@sonurawet5947 5 ай бұрын

Sir, kya conveyance to staff, vehicle running conveyance, pantry expense from unregistered person, Repair and maintenance from unregistered, labour charges etc per bhi RCM application hoga kya.

@upscbackbancher6776 8 ай бұрын

Sir man lo maine urd person se 50kg sugar purchase kiya to kya mujhe rcm entry karna padega aur mujhe is sugar ko without gst sale karna padega ya gst ke sath please batao bhai

@hamdantp7620 6 ай бұрын

Is rcm applicable for rubber sheet purchase from unregistered party

@manojkaushik5883 4 ай бұрын

What if security services recd by registered person from registered person will rcm apply on that case

@Dsaclasses 7 ай бұрын

From where i found this list of rcm ?

@kundansinhparmar5984 3 ай бұрын

RCM applicable on Toll tax/Driver on contract basis for company bus?

@debashissen3415 9 ай бұрын

Thanks for ur video..... I m some Q reg in my case..... RTP is a C&F of Acc ltd. And also other goods trader..... RTP has agreement to goods carriage on behalf of ACC for which RTP issues exempt Invoce & ACC pays 5 percent RCM. RTP hires truck from local individual & other registered person. RTP also pays RCM on hires from individuals.....my opinion is RTP should not give RCM.... & what will be gst impact for other infividual, reg persons who are giving on hire to that RTP....pls suggest.....

@tarannumpathan1805 9 ай бұрын

Dear Sir, kindly make yours expert guidance video on telecom distributor's GST accounting and TDS returns filing...

@FinTaxPro 9 ай бұрын

Will try

@ajayporwal8207 3 ай бұрын

In renting of residential dwelling..if Regd person supplies services of residential dwelling to Unregistered Person ...Will Gst be applicable...? Plz reply ....thanks ...?

@AnkitKumar-ip1jd 4 ай бұрын

Sir advocate mai kya tax advocate bhi aayega

@sabirhussain-cb8wk 6 ай бұрын

Hello sir हम URD से waste pepar purchase करते हैं फिर उस waste pepar को हम फैक्टरी सेल करते हैं with GST तो किया urd purchase करने पर हमे rcm pay करना होगा ?

@gauravnaliyapara1710 9 ай бұрын

HI SIR PLEASE CONFORM TO RCM TAX PAY BUT HOW ARE LIMIT IN RCM TAX ( BEFORE APLICABLE IN 5000 RS. TRANSATION RCM GST TAX APLICABLE TO THIS TIME AS TILL DT. INCREASE LIMIT RCM.) PLEASE SHARE TIS DETAILS.

@vishwasmalik7788 9 ай бұрын

Hi sir Can businesses later claim that GST as ITC paid under RCM for residential dwelling ?

@FinTaxPro 9 ай бұрын

Yes

@Sunit_Attri70 9 ай бұрын

Sir agar URD se purchase ki hai to RCM pay Krna compulsory hoga??

@FinTaxPro 9 ай бұрын

@cubolite-anengineeredbrick9479 Ай бұрын

Sir, Could u pls share a gazette where it is mentioned that RCM from URD is not applicable. Pls help

@SD-ld5lz Ай бұрын

Even i am looking for such notification. Looks very unclear to me

@sufiyanpatel730 9 ай бұрын

Passenger transport me properitor body corporate ko service deto proprietor 5% ya 12% charge kar sakta hai.. Ya RCM compulsary lagega

@FinTaxPro 9 ай бұрын

Forward charge opt karta h to RCm nahi lagega. 5% without ITC opt kar sakta h GTA FCM m

@sufiyanpatel730 9 ай бұрын

@@FinTaxPro car hiring me bhe fcm 5% lag sakta hai agar recipent body corporate hai to

@nikunj5656 9 ай бұрын

Journal entries under RCM is not in description, pls share

@FinTaxPro 9 ай бұрын

Video link is provided in description. How can i share journal entry in descriptio?

@farhanmanasiya5049 6 ай бұрын

Sir NOC Format & Rent Agreement Format bhejo.

@nirmal581 9 ай бұрын

sir agar purana ocean freight ka totice aaya he to kya vo paid karna padega?

@FinTaxPro 9 ай бұрын

Yes

@nirmal581 9 ай бұрын

@@FinTaxPro sir agar hum transportation charges sales inv me include karte he par transporter ko payment to hum hi karte he to kya transporter ki bulty pe rcm applicable hota he kya?

@arulroshi8361 5 ай бұрын

Is RCM applicable on purchase of brick from unregistered person

@t-tigergaming 5 ай бұрын

Same question

@braininsights6101 9 ай бұрын

Labour payment and Machinery payment pe RCM HAI KYA SIR.. PLEASE REPLY

@FinTaxPro 9 ай бұрын

@ketanparikh4794 8 ай бұрын

What if unregistered gta provides services to a registered person , is rcm to be paid by recipient???

@FinTaxPro 8 ай бұрын

Already explained

@ketanparikh4794 8 ай бұрын

@@FinTaxPro I listen but couldn't find it, if u can reply yes or no, the reason is new tally prime has disabled the feature viz unregistered pur taxable

@ArunKumar-wh8tl 8 ай бұрын

Best hai. Zafal sir v dikh rhe hai.moh.safi ahemed sir ko nhi dekh rha hu

@030siva 5 ай бұрын

Rcm attracted on gold making charges

@ranashreyasd1122 8 ай бұрын

gstr1 wrongly filed without rcm how to resolve

@Armylover-jg2ve 8 ай бұрын

Gstr3b me rcm ki jata h nhi ki gstr1

@user-eg8zg3dd7o Ай бұрын

so no question of eway bill in rcm

@riteshmodanwall1446 9 ай бұрын

sir would we get pdf of that?

@FinTaxPro 9 ай бұрын

Join our telegram group for notes t.me/fintaxpro

@gauravpradhan3645 9 ай бұрын

sir please give me updated list of RCM

@FinTaxPro 9 ай бұрын

Join our telegram group for notes t.me/fintaxpro

@shubhamsingh2468 5 ай бұрын

Vo thumbnail mein bhai itna muskurata phto mat dala karo. Aap gst ke naye rules batare ho kisiko maza nai aata agar har mahine yeh log kuch na kuch naya add karte rahe ho. Toh itna muskurata chehra nai dhuk bhara chehra dalo thumbnail mein pls. Vaise apka kaam bohot accha hai😊

@FinTaxPro 5 ай бұрын

Baat to sahi h 😜

@sufiyanpatel730 9 ай бұрын

GTA FCM me 5% gst nahe pay kar sakta ?

@FinTaxPro 9 ай бұрын

Kar sakte h without ITC

@AKHILESHKUMAR-gu2rs 9 ай бұрын

Scrap and rice bran me rcm lagega kya

@su85jeet 9 ай бұрын

Notify nhi he...

@upscbackbancher6776 8 ай бұрын

@@su85jeetSir man lo maine urd person se 50kg sugar purchase kiya to kya mujhe rcm entry karna padega aur mujhe is sugar ko without gst sale karna padega ya gst ke sath please batao bhai

@su85jeet 8 ай бұрын

@@upscbackbancher6776 Iss case me aapko Sugar purchase me koi rcm nahi lagega use direct purchase book kijiye but sale ke time me 5% gst pay karna hoga bcoz aap Gst me registered he, aap ek baar Gst ka sec 9(3) ko study kar lijiye isme limited goods ka list available he jo Rcm attract karta he...

@upscbackbancher6776 8 ай бұрын

@@su85jeet Sir man lo abhi ek kilo sugar ka 35rs kg h थोक मूल्य me bechane par lekin ab isi sugar par ham 12% gst lete h customer se us customer ko sugar ka rate 35rs+12%gst(39rs padega ab) hoga toh kya o customer hamare shop se sugar lega Aur ham raital rate me 40rs me bechate h customer ko ab ham sugar me 12% gst lagayenge to sugar ka rate 40+12% (44.8) gst hoga toh kya customer lega hamare shop se sugar dusare shop me abhi bhi sugar 40rs me hi milega na bhai Is problem ka solution batao bhai

@su85jeet 8 ай бұрын

Aapka shop he ? Kya turnover he ? Hum log to sugar ka kaam karte he, hum log purchase me 5 % itc input lete he aur sale me 5% output phir 12% ka gst sugar ka logic samajh nhi aa raha...

@YogeshKumar-nx6wp 8 ай бұрын

सर मैं एक ट्रेडर हूं और मार्केट से एक ट्रक लिया और एक अनर्रेजिस्टर को गुड्स सेल कर दिया और वो fright पेमेंट कैश में कर दिया तो rcm ka libilty होगा क्या