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GST update on FAQ on exemption limit for payment of tax under Reverse charge

GST update on FAQ on exemption limit for payment of tax under Reverse charge

As per section 9 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the CGST Act), it shall be the liability of registered recipient of the goods or services to pay tax on reverse charge basis on procurement of goods or services from unregistered person and all other provisions of this Act shall apply to such recipient, as if he is the person liable for paying the tax in relation to the supply of such goods or services or both. In this respect, no exemption limit under any provision of the Act has been prescribed below which tax under reverse charge is not to be paid.
Although, recently some FAQs were issued on CBEC website wherein it was stated that an exemption of Rs.5000/- per day shall be allowed in respect of supplies received from unregistered person. For supplies above this amount, a monthly consolidated bill can be raised. 

 

 

However, no notification or circular in respect of the same has been issues as yet. Interestingly, a disclaimer has been given at the end of the FAQs that the tweets received or the replies quoted are only for educational and guidance purposes and do not hold any legal validity.

Hence, we have to wait for further clarification.

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