Director's Service - RCM Applicable or not
Generally, the suppliers of goods or services are liable for the payment of tax the Government. However, in certain cases the liability to pay tax to the Government is shifted to the recipient which is called payment of tax under RCM. The concept of Reverse Charge Mechanism is very crucial concept under GST. The concept of RCM was also available in the service tax regime................. Read More
GST Implications on Director's Remuneration
Every company pays remuneration to its directors and records it as an expense in the books of accounts. From a GST perspective, the question arises whether GST would be applicable on the remuneration paid by the company to its directors. If GST is applicable on such remuneration, then the next question is whether the tax would be payable under forward charge by the director, or whether such amount is taxable under RCM ..... Read More
24.05.2024