Tax Consultant

  [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE(DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS   NOTIFICATION No. 17/2022–Central Tax New Delhi, the1stAugust, 2022 G.S.R.....(E).–In exercise of the powers conferred by sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017, the Government, on the recommendations of the Council, hereby makes the following further amendmentin the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 13/2020 –Central Tax, dated the 21stMarch, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section(i) videnumber G.S.R. 196(E), dated 21stMarch, 2020, namely:-In   the   said   notification,   in   the   first   paragraph,   with   effect   from   the 1stday   of October,2022, ...

  Reverse Charge Mechanism Meaning :-   As per Section 2(98) reverse charge means the liability to pay tax by the recipient of supply of goods & services or both intended of the supplier of such goods or services or both under sub-section (3) or sub-section (4) of section 9, or under sub-section (3) or sub-section (4) of section 5 of the Integrated Goods & Service Tax Act; As per above definition it is clear that RCM is the mechanism in which receiver of the services or goods liable to pat tax in place of service or goods provider. Registration :-   A person who is required to pay tax under reverse charge has to compulsorily register under GST and the threshold limit of Rs. 20 lakh (Rs. 10 lakh for special category states except J & K) is not applicable to them. ITC: A supplier cannot take ITC of GST paid on goods or services used to make supplies on which recipient is liable to pay tax. Only receiver can avail the ITC on RCM paid by him. Time of ...

  1.        Matter:-    A Dealers who is operating an hotels and also running a restaurant in hotel wants to redesign his restaurant. He received invoices for consultancy or planning services for the same. Is the ITC on the invoices received from dealer is eligible or not?   2.        Block Credit Under GST :-    As per section 17(5) ITC on some services are restricted and works contract is also included in the same.   Section 17(5)(c) :-   “Works contract services when supplied for construction of immovable property, other than plant & machinery, except where it is an input service for further supply of works contract;” Section 17(5)(d)   :-    “ Goods or services received by a taxable person for construction of immovable property on his own account, other than plant & machinery, even when used in course or furtherance of business; “ Explanation :- ...