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TMI BlogReverse Charge Mechanism (RCM) on renting of motor vehiclesX X X X Extracts X X X X X X X X Extracts X X X X ..... motor vehicles - reg. Suppliers of service by way of renting of any motor vehicle designed to carry passengers where the cost of fuel is included in the consideration charged from the service recipient have an option to pay GST either at 5% with limited ITC (of input services in the same line of business) or 12% with full ITC. 2. The GST Council in its 37th meeting dated 20.09.2019 examined ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovided by way of renting of a motor vehicle provided to a body corporate. Any person other than a body corporate, paying RGST @ 2.5% on renting of motor vehicles with input tax credit only of input service in the same line of business Any body corporate located in the taxable territory. 3. Post issuance of the n otification, references have bee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... service recipient, the service recipient shall not be liable to pay GST under RCM; and, (ii) where the supplier of the service doesn't charge GST @ 12% from the service recipient, the service recipient shall be liable to pay GST under RCM. 5. Though a supplier providing the service to a body corporate under RCM may still be paying GST @ 5% on the services supplied to other non body corp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd therefore for the period 01.10.2019 to 30.12.2019 also, clarification given at para 5 above shall apply, as any other interpretation shall render the RCM notification for the said service unworkable for the period which is not permissible in law. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagement ..... X X X X Extracts X X X X X X X X Extracts X X X X
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