Notification No.05/2022-CentralTax (Rate) NEW CHANGE IN RCM UNDER GST FROM 18.07.2022

By | July 14, 2022
(Last Updated On: July 14, 2022)

NEW CHANGE IN RCM UNDER GST FROM 18.07.2022

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(DEPARTMENT OF REVENUE)

Notification No.05/2022-CentralTax (Rate)

New Delhi, the 13thJuly, 2022

GSR……(E).-In exercise of the powers conferred by sub-section (3) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017),the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.13/2017-Central Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 692(E), dated the 28th June, 2017, namely:

In the said notification, in the Table,-

(1) against serial number 1,in column (2), –

(a)thewords, figures and symbols “who has not paid central tax at the rate of 6%,” shall be omitted;

(b) after theprovisothe following provisoshall be inserted, namely: –

“Provided further that nothing contained in this entry shall apply where, –

i.the supplier has taken registration under the CGST Act, 2017 and exercised the option to pay tax on the services of GTA in relation to transport of goods supplied by him under forward charge;and

ii.the supplier has issued ataxinvoice to the recipient charging Central Tax at the applicable rates and has made a declaration as prescribed in Annexure III on such invoice issued by him.”;

(2) against serial number 5, in column (2), in the sub-clause(2), in item (i), the words “byway of speed post,express parcel post, life insurance,and agencyservices provided to a person other than Central Government, State Governmentor Union territory or local authority”shall be omitted;

(3) afterserial number 5Aand the entries relating thereto, the following serial number and entries shall be inserted, namely:

…..

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