GST – Started By: – Kaustubh Karandikar – Dated:- 31-1-2019 Last Replied Date:- 4-2-2019 – What is the consequence of, The Central Board of Indirect taxes & Customs ( CBIC ) has notified that Exemption from tax under Reverse Charge Mechanism (RCM) under GST stands rescinded w.e.f. February 01, 2019 in respect of Intra-state Purchases of Goods and Services from Unregistered Dealers (of value upto ₹ 5,000 per day), in view of bringing into effect, the amendments (regarding RCM on supplies by unregistered persons) in the Amended CGST/ IGST/ UTGST Acts 2018. Consequently Notification No. 8/2017- Union Territory Tax (Rate), dated the 28th June, 2017, Notification No. 8/2017-Central Tax (Rate), dated the 28th June, 2017, and Notificati
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ification, specify a class of registered persons who shall, in respect of supply of specified categories of goods or services or both received from an unregistered supplier, pay the tax on reverse charge basis as the recipient of such supply of goods or services or both, and all the provisions of this Act shall apply to such recipient as if he is the person liable for paying the tax in relation to such supply of goods or services or both. By reading the section we can understand that the provisions of 9(4) is not applicable to all registered persons, goods and services. It is applicable only to selected categories of registered persons & Goods and services which has to be notified by the Government. So until the same is being notified t
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tered persons are specified. – Reply By YAGAY andSUN – The Reply = We endorse the views of our experts. – Reply By Praveen Nair – The Reply = Dear ExpertsWith the existing notification rescinded and the new notification coming to force from 01.02.2019 and having not mentioned any details of specified registered person it is advised that the provision for RCM on unregistered person be made effective 01.02.2019 in your organization, irrespective of the type of registered person you are.Regards/Pravin – Reply By CASusheel Gupta – The Reply = As per amendment, govt needs to notify 1) Class of registered persons, who shall pay tax under RCM and 2) categories of goods or services. In the absence of notification, RCM cannot be applied under 9(4) T
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