GST Update New Services included in reversed charged (RCM) wef 01st Jan 2019)

GST Update New Services included in reversed charged (RCM) wef 01st Jan 2019)

In GST Law two type of category of reverse charge scenarios provided.

The first category is defined under section 9 (3) of the CGST/ SGST (UTGST) Act and section 5 (3) of the IGST Act. The First category is dependent on the nature of supply /supplier.

The Second category is covered by section 9 (4) of the CGST/SGST (UTGST) Act and section 5 (4) of the IGST Act where taxable supplies by any unregistered person to a registered person is covered here. Reverse Charge Mechanism in this category is deferred to 30th Sept 2019. ( Latest update as on 6th Aug 2018)

The following new services are enter in first category ( as perNotification No. 29/2018- Central Tax (Rate) dated 31st December, 2018 :

Sl. No.
Category of Supply of Services
Supplier of service
Recipient of Service
Services provided by business facilitator (BF) to a banking company
Business facilitator (BF)
A banking company, located in the taxable territory
Services provided by an agent of business correspondent (BC) to business correspondent (BC).
An agent of business correspondent (BC)
A business correspondent, located in the taxable territory.
Security services (services provided by way of supply of security personnel) provided to a registered person:

Provided that nothing contained in this entry shall apply to, -

(i)(a)a Department or Establishment of the Central Government or     State Government or Union territory; or

(b) local authority; or

(c) Governmental agencies; which   has taken registration under the
Central Goods and Services Tax
Act, 2017 (12 of 2017) only for 
the purpose of deducting tax
under section 51 of the said Act 
and not for making a taxable            supply of goods or services; or

(ii) a registered person paying tax under section 10 of the said Act.
Any person other than a body corporate
A registered person, located in the taxable territory.”;

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