Tag: rcm

Introduction of RCM Liability / ITC Statement on GST Portal

Introduction of RCM Liability / ITC Statement on GST Portal In order to assist taxpayers in correctly reporting Reverse Charge Mechanism (RCM) transactions, a new statement called “RCM Liability / ITC Statement” has been introduced on the GST Portal. This statement will enhance accuracy and transparency for RCM transactions …

Reverse Charge Mechanism (RCM) on renting of motor vehicles – CBIC Clarification

Reverse Charge Mechanism (RCM) on renting of motor vehicles – CBIC Clarification on the suppliers covered Circular No. 130/49/2019- GST F. No. 354/189/2019-TRUGovernment of IndiaMinistry of FinanceDepartment of Revenue(Tax research Unit)***** North Block, New Delhi,Dated the 31st December, 2019 To,The Principal Chief Commissioners/ Chief Commissioners/Principal Commissioners/ Commissioner of …