CBIC Issued Corrigendum to Provide RCM Is Applicable Only on Renting of Commercial “Immovable” Property
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- Last Updated on 24 October, 2024
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Corrigendum G.S.R. 652(E) dated October 22nd, 2024
The CBIC has issued corrigendum to provide that Reverse Charge (RCM) is applicable only on renting of commercial “immovable” property by adding word “immovable”.
Earlier, a new entry 5AB “Service by way of renting of any property other than residential dwelling” has been inserted in Notification No. 13/2017-Central Tax (Rate), dated 28th June, 2017 which specifies services covered under RCM and now immovable word is inserted.
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