Job work and Notification 20/2019 dated 1-10-2019 Earlier, Excise and service tax always fights in deciding whether particular transaction is Manufacture or Whether its service Intention of GST introduction was to Reduce litigation on deciding this.. On 1-7-17 GST came.. And everywhere in Act, schedules,
Notification no. 22/2019 introduced three new entries to RCM. Three new entries to the RCM list in GST namely renting of a motor vehicle, transfer of copyright by an author and lending of securities. Notification no 22/2019 CTR dated 30th sept 2019 has amended 13/2017.
Important Changes in GST w.e.f. 01-10-2019 Reverse Charge Renting of Motor Vehicle Services provided by way of renting of motor vehicle by any Individual/Firm/LLP to any Body corporate (companies), covered under reverse charge mechanism, taxable @5%. However if the service provider charges GST @12% then