Under RCM, the receiver of service is liable to pay tax on supply. Usually, the supplier of goods is liable to GST, but under RCM, the chargeability gets reversed. There are two GST rates used in renting motor vehicles: With full ITC- 12% With limited* ITC- 5% *Limited ITC means input tax credit can be claimed only from the … See more RCM was made applicable on renting of motor vehicles vide Notification no. 29/2024 dated 31.12.2024. Further, a clarification was also issued in this regard vide … See more RCM is applicable on renting motor vehicles only if the supplier is a person other than a body corporate. The table below summarises the applicability of RCM: See more WebBersamaWisata.com memberikan solusi kebutuhan wisata Anda, tiket pesawat, voucher hotel dan penginapan, kereta api, bus, rental mobil, aktivitas, pembayaran tagihan, ppob, …

RCM under GST on Renting of Motor Vehicles - TaxGuru

WebJan 28, 2024 · Tax liability when renting motor vehicles. Under the RCM, the recipient of the service is liable to pay tax on the supply. The supplier of the goods is normally liable for … WebNov 30, 2024 · Section 9 (3)of CGST/SGST acts provides that, Government may specify categories of supply of goods or services which shall be paid on reverse charge basis i.e. … open houses this weekend hampton nh

Hiring of Non-AC buses for transportation of staff liable for GST

WebFeb 11, 2024 · Solution: The TDS rate and amount on car hire charges will be at 1% and Rs. 350 respectively since it is an HUF and passes the threshold of Rs. 30,000. For the Full … WebJan 9, 2024 · Recently, the Central Board of Indirect Taxes and Customs (‘CBIC’) has issued Notification and Circular, with the intention of eliminating the anomaly created after … Web7 rows · Jun 8, 2024 · Applicable. Renting of Motor Vehicle where cost of fuel included … iowa st cyclones football