What is the Rate of GST in reverse charge supply?
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The rate of tax to be used for the reverse charge supply is the rate that is applicable on such goods/services. GST Compensation Cess is also applicable on reverse charge. If the goods/services purchased in exempted or nil rated then no tax is payable under RCM. Composition dealers are required to pRead more
The rate of tax to be used for the reverse charge supply is the rate that is applicable on such goods/services. GST Compensation Cess is also applicable on reverse charge. If the goods/services purchased in exempted or nil rated then no tax is payable under RCM.
Composition dealers are required to pay reverse charge at normal rates (5%,12%,18%,28%) and not at the composition rates (1% or 5%).
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