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REVERSE CHARGE MECHANISM UNDER GST

MVK TAXAUDIT

EARLIER REVERSE CHARGE MECHANISM WAS SUSPENDED TILL SEPTEMBER 2019 LATER , FEW SERVICES WERE LISTED UNDER REVERSE CHARGE MECHANISM. HOWEVER, IN CASE OF GOODS RCM APPLICABILITY IS NOT CLEAR. ADVICE WHETHER RCM IS APPLICABLE OR NOT IN THE FOLLOWING CASES :-

1. WHEN SILK SAREES ARE PURCHASED FROM UNREGISTERED DEALER ?

2. WHEN JOBWORK SUCH AS PROCEESING OF SILK SAREES LIKE DYEING COLOURS TO SILK SAREES, WATER PROOFING THE SAREES FROM UNREGISTERED DEALER?

Reverse Charge Mechanism: Silk Yarn RCM Applies; Unregistered Job Work Attracts 18% GST Post-2019 Amendments A query was raised regarding the applicability of the Reverse Charge Mechanism (RCM) under GST for specific transactions involving silk sarees. The first question concerned the purchase of silk sarees from an unregistered dealer, while the second dealt with job work such as dyeing and waterproofing from an unregistered dealer. The response clarified that silk yarn is subject to RCM, and job work from an unregistered person attracts an 18% GST. It referenced relevant notifications and circulars, noting changes from the GST Amendment Act, 2018, which rendered previous exemptions irrelevant after January 31, 2019. (AI Summary)
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