RCM and CL

7 important questions on RCM and CL

What is the tax liability for renting of immovable property by CG to any registered person?

Any registered person is liable to pay tax.

Who is the recipient of services by an insurance agent in the Insurance & Banking Service Sector?

Insurer carrying life or general insurance business

What is the condition for RCM applicability in renting of residential dwelling?

Services by Any Person to a registered person are subject to RCM.
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What is the tax status for services by a recovery agent to a banking company?

Such banking company, Financial Institution or NBFC

Who receives services supplied by members of the overseeing committee?

Reserve Bank of India (RBI)

What is the condition for services supplied by Individual Direct Selling Agents (DSAs) to a banking company?

Forward Charge if any of the conditions of RCM not fulfilled

Who receives services supplied by a Business Facilitator?

A banking company located in the taxable territory

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