https://www.taxtmi.com/forum/issue?id=117268 Whether payments to daily collection agents by banks attract Reverse Charge Mechanism liability depends on classification of the service. Contributors note that the RCM entry covering services supplied by a recovery agent to a banking company, financial institution or non banking financial company requires the recipient to pay tax under reverse charge. Others caution that a collection agent may be functionally distinct from a recovery agent and instead resemble an intermediary or commission agent, requiring factual analysis to determine whether the recovery agent RCM entry applies. en-us Tue, 08 Jun 2021 11:57:26 +0530 Thu, 23 Jan 2025 15:54:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117268 Whether payments to daily collection agents by banks attract Reverse Charge Mechanism liability depends on classification of the service. Contributors note that the RCM entry covering services supplied by a recovery agent to a banking company, financial institution or non banking financial company requires the recipient to pay tax under reverse charge. Others caution that a collection agent may be functionally distinct from a recovery agent and instead resemble an intermediary or commission agent, requiring factual analysis to determine whether the recovery agent RCM entry applies. Discussion-Forum GST Tue, 08 Jun 2021 11:57:26 +0530 https://www.taxtmi.com/forum/issue?id=117268