As per time of supply provisions in case of reverse charge, the time of supply for services shall be the earliest of the following dates-
(a) the date of payment OR
(b) the date immediately after sixty days from the date of issue of the invoice by the supplier.
Now RCM is suspended w.e.f.13th Oct.
I have received an invoice date 10th August.Time of supply triggers on 9th Oct.So am I supposed to pay GST under RCM on the same.If yes by when?request you to throw some light on this topic.
GST Reverse Charge Mechanism Suspension: Invoices Before Oct 13, 2017, Still Subject to RCM; Interest Applies if Late A query was raised regarding the time of supply under the Goods and Services Tax (GST) regime, specifically concerning the reverse charge mechanism (RCM) and its suspension effective from October 13, 2017. The individual received an invoice dated August 10, with the time of supply triggering on October 9. The question was whether GST should be paid under RCM. Responses clarified that, according to the CGST Act, 2017, tax must be paid by September 10, 2017, and if paid later, interest is applicable. The suspension of RCM is prospective, so invoices before October 13 are subject to RCM if required by law. (AI Summary)
TaxTMI 
TaxTMI 
