Reverse Charge mechanism

[MANOHAR KALBURGI]

Is there any RCM mechanism on renting of plan and machinery

ASAP

Thank you in advance

[KASTURI SETHI]

No RCM on renting of plant and machinery.

[Ganeshan Kalyani]

The said service is not covered in the RCM notification. Hence RCM is not applicable.

AI Summary

Reverse charge mechanism not applicable to renting of plant and machinery; service falls outside RCM notification.
The Reverse Charge Mechanism does not apply to renting of plant and machinery because that service is not covered by the relevant RCM notification under GST; therefore such renting transactions should not be treated as liable to reverse charge and must follow the ordinary GST charging and reporting regime for the supplier.