WebSep 4, 2024 · The applicable rate of GST as per Notification No. 11/2024-Central Tax (Rate) Dt : 28th June, 2024, is @ 5% (CGST – 2.5% + SGST – 2.5%). Therefore the Recipient is required to pay GST @ 5% on … WebMay 13, 2024 · Time of supply of goods & services under forward charge. Forward charge is a mechanism in which the supplier has to levy tax and remit the same to the credit of the central or state Government. Under the current tax regime, tax is levied and collected on most transactions using the forward charge mechanism (also called Direct …
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http://caportal.saginfotech.com/blog/lawyers-advocates-and-legal-advisers-liability-under-gst/ WebApr 12, 2024 · Conclusion. In conclusion, the GST forward charge mechanism is an essential component of the Goods and services tax system in India. The mechanism ensures that the tax is collected at the point of supply of goods or services, which helps in increasing tax revenue for the government. It also simplifies the tax system and reduces … harvey tool drills
All about Reverse Charge Mechanism (RCM) under GST with All …
WebApr 12, 2024 · Conclusion. In conclusion, the GST forward charge mechanism is an essential component of the Goods and services tax system in India. The mechanism … WebJul 4, 2024 · Forward Charge on the supply of goods – Under this mechanism, the supplier is liable to levy and remit the tax to the credit of the government (either the state or central). Under the current indirect tax regime, most transactions use this mechanism for the collection of tax. This mechanism is also known as the Direct Charge Mechanism. WebApr 7, 2024 · The houses taken on rent for guest house purposes were located in the residential areas. As per Notification No. 05/2024 Central Tax (Rate) dated 13-7-2024, if residential dwelling is rented to a registered person whether for residential purposes or otherwise, the tenant has to discharge GST liability irrespective of purpose of use under … harvey tool machining advisor