GST in itself is a pretty vast and diverse indirect tax law. Various provisions have been prescribed in the GST Act for facilitating the treatment of the supply of goods & services.
The general practice usually followed in the GST Regime involves the supplier collecting tax from the recipient by affecting the supply of goods & services and depositing the collected tax with the Government. However, under RCM, the recipient of goods & services becomes liable to discharge tax to the Government in respect of such a supply.
Thus, under RCM, the provisions of the GST Act would apply to the recipient as if he is responsible for discharging tax liability with respect to the supply of goods or services.
The Government of India has defined a few instances in which the Reverse Charge Mechanism would apply.
In this 5-hour online live batch, we will cover all the instances prescribed by the Government of India where RCM would be attracted. The theoretical concept and impact of such RCM transactions from a practical aspect will be covered in this 5 hours live session.
This live session will help the participants to understand RCM transactions in a better manner and the application of the same in real-life scenarios.
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