what kind of lawyer reverse charge

Who is liable to pay reverse charge?

Apr 24, 2020 · Individual advocate or firm of advocate provides legal services. These legal services are taxable supplies taxed under RCM (Reverse Charge Mechanism). These legal services include legal advice, legal consultancy, legal assistance, representational service before any court/ tribunal etc.

Who can be a recipient of reverse charge mechanism (reverse charge mechanism)?

reverse charge mechanism. Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply. There are two type of reverse charge scenarios provided in law. First is dependent on the nature of supply and/or nature of ...

What is reverse charge and when will it apply?

In order to be eligible for a reverse mortgage, a homeowner must: Be at least 62 years of age. It is important to note that this generally applies to all individuals listed on the property’s deed of title; Own a home that is their primary residence; and. Have the reverse mortgage as …

What is the reverse charge mechanism for VAT?

May 14, 2020 · The postponed accounting of import VAT allows the reverse charge mechanism on import VAT amounts. This means that, instead of paying VAT at the border and deducting it later in the VAT return, the importer will pay and deduct the VAT at the same time in the VAT return, with the corresponding nil cash flow impact (unless partial exemption applies).

Who is liable to pay reverse charge?

the recipient ofReverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply.

What happens if reverse charge is not paid?

The person cannot take the plea that there is no revenue loss if he had not paid the RCM liability because if he pays RCM liability then the same time, he will avail input tax credit.Aug 31, 2020

How is reverse charge treated?

Supply from an unregistered dealer to registered dealer If a vendor who is not registered supply goods to a person who is registered then Reverse charge would apply. This means GST is paid directly by receiver to government instead of supplier.Jan 4, 2018

Is it compulsory to pay reverse charge?

All taxpayers required to pay tax under reverse charge have to register for GST, and the threshold of Rs. 20 lakh or Rs. 40 lakh, as the case may be, does not apply to them.Apr 5, 2022

Can we claim RCM in the same month?

Yes, you can claim the Input Tax Credit on RCM in the same month, when you paid the GST under RCM.

Is reverse charge applicable on professional fees?

13/2017-CTR dated 25.09. 2017, for legal services supplied by an individual advocate, a senior advocate or firm of advocates to a business entity located in taxable territory, the tax under reverse charge shall be paid by the recipient of services i.e., the business entity.

Who is responsible for service tax under reverse charge mechanism?

When person receiving service is liable to pay service tax under reverse charge, he is not entitled to exemption which is available to a small service provider. Thus, the service receiver is liable to pay service tax even if value of service of service provider is less than Rs. 10 Lakhs.Jan 27, 2016

Is reverse charge applicable on unregistered dealer?

As per Sec 9(4) of CGST Act, if a registered person purchases goods/services from an unregistered dealer (URD) then the registered taxpayer is liable to pay GST on reverse charge basis( only for certain goods/services & registered persons).Jan 12, 2022

Is RCM shown in Gstr 1?

The supplier has to report invoice-wise sales subject to RCM in his GSTR-1. The supplier has to report the same in table 4B of GSTR-1 (Outward supplies attracting tax on reverse charge basis). The recipient has to report the summary of purchases attracting reverse charge.May 28, 2021

Who pays GST buyer or seller?

Goods and Service Tax (GST) is paid by the consumers for the products or services. But the GST will be remitted to the government by the businesses who are providing you with those products and services.Apr 27, 2020

What is reverse charge mechanism with example?

Example – A trader who is registered in GST takes services of Goods Transport Agency (GTA) for Rs. 10,000. This service is listed under the reverse charge list therefore trader has to pay tax @ 18% on Rs. 10,000 on RCM.

When can credit for tax paid under reverse charge be taken?

(3) Any amount payable under reverse charge shall be paid by debiting the electronic cash ledger. In other words, reverse charge liability cannot be discharged by using input tax credit. However, after discharging reverse charge liability, credit of the same can be taken by the recipient, if he is otherwise eligible.Oct 1, 2021

What is reverse mortgage?

What Is a Reverse Mortgage? The term mortgage refers to a type of security interest that is attached to a property. This interest serves as collateral for the repayment of a loan borrowed from a bank or other financial institution in order to pay for the property.

What are the different types of reverse mortgages?

Yes, there are different types of reverse mortgages distinguished by the source of the loan. These different types include: 1 Single Purpose Reverse Mortgages: These types of reverse mortgages are typically offered by state and/or local government agencies. These loans are also known as property tax deferral programs, or deferred payment loans. They allow the homeowner to access part of, but not all, their homeowner’s equity in order to pay for an expense approved by the lender. The most common expenses approved for this type of reverse mortgage are property taxes and essential home repairs; 2 Home Equity Conversion Mortgages: Known as “HECM,” these are federally insured mortgages typically distributed by the Department of Housing and Urban Development (“HUD”). HECM allows senior citizens to convert the equity of their home into cash based on the appraised value of the home, as well as the age of the borrower; and 3 Proprietary Reverse Mortgages: Proprietary reverse mortgages are offered by banks, mortgage companies, and other private lenders. These mortgages operate on the same basic principle of using a homeowner’s home equity, but has no government involvement in the process. Lenders determine their own rules, and the loans are not restricted by the limits on proceeds placed by the government.

Why do people get reverse mortgages?

This is because reverse mortgages allow the individual to remain in their home while maintaining financial stability. Reverse mortgages can also help alleviate some of the financial strain of being retired or living on a fixed income as an elderly person.

What happens when a home is sold?

In exchange, the lender holds onto some, most, or all of the home’s equity. Once the home is sold or vacated, the borrower must begin repaying the loan. It is important to note that the homeowner is still responsible for other payments at this time, such as taxes and insurance.

Do you need an appraisal for a reverse mortgage?

Importantly, all of these steps must be done in accordance with a strict timeline in order to not trigger a maturity event under the reverse mortgage terms.

Is reverse mortgage interest deductible?

Reverse mortgages are often more expensive than traditional loans, and the interest attached to such mortgages is generally not deductible until the loan has been paid off, whether in part or in full.

What is reverse charge in VAT?

The answer is in the VAT reverse charge rules, which countries can implement differently in each case. As a general rule, businesses charge VAT on supplies and deduct VAT on purchases. The reverse charge mechanism is a deviation from this rule where the supplier does not charge VAT on the invoice and the customer pays and deducts VAT simultaneously ...

What article of the VAT Directive is used for reverse charge?

In EU countries, instead of the Domestic VAT law, you may include the Article of the VAT Directive. For example, article 194 of the VAT Directive is used for Domestic reverse charge, and article 138 of the VAT Directive is used for intra-Community supplies of goods. You can check the information on invoicing rules of the EU Commission.

Is intra-community supply zero rated?

The outgoing side of this transaction is called intra-Community supply, which is zero-rated provided all conditions are met.

What is triangular transaction?

In a triangular transaction, a supplier in country A invoices a customer in country B, who subsequently invoices another customer in country C (invoice flow). The goods, however, are shipped directly from country A to country C (goods flow). Where the conditions for simplification are met, party B does not have to register in country C, instead, party C will be liable to pay the VAT under the reverse charge mechanism. This is an EU wide rule applicable in all Member States, but there are a few exceptions where party B is already registered in country A or country C.

Does reverse charge apply to domestic supplies?

This reverse charge also applies on domestic supplies, however, in this case it is not required that the supplier is not established. The difference here is that only a number of goods and services are subject to this type of reverse charge.

What is postponed VAT?

The postponed accounting of import VAT allows the reverse charge mechanism on import VAT amounts. This means that, instead of paying VAT at the border and deducting it later in the VAT return, the importer will pay and deduct the VAT at the same time in the VAT return, with the corresponding nil cash flow impact (unless partial exemption applies).

Do you charge VAT on invoices?

You will not charge VAT on the invoice. Only the net amount will be stated and only this amount will be paid into your bank account. You should still refer to VAT as 0% as you do with other zero-rated or exempt sales. You will include a reference to reverse charge.

What is victim compensation?

Victim compensation funds are provided through a government program in order to reimburse victims of violent crimes, such as assault or battery, as well as their families for out-of-pocket expenses and medical bills. Every state has some sort of victim compensation program; thus, it is important to look up the requirements for receiving funds ...

What is privilege in criminal law?

Privilege: Some defendants may have a privilege to commit an assault or battery in some cases. For example, police officers have a privilege to use force to place a suspect under arrest; Consent: In some cases a plaintiff may have consented to being in a place where the plaintiff would be assaulted or touched.

What are the defenses to assault and battery?

The following is a list of defenses that may apply to civil or criminal assault and battery charges: 1 Self-Defense: The most well-known defense to assault and battery is that the defendant was acting in self-defense. This means that the defendant was the person initially attacked by the plaintiff and committed assault or battery to protect themselves. This may also open the plaintiff to a counter-suit for assault and battery by the defendant. Further, a person may also use reasonable force to defend another person in some cases; 2 Privilege: Some defendants may have a privilege to commit an assault or battery in some cases. For example, police officers have a privilege to use force to place a suspect under arrest; 3 Consent: In some cases a plaintiff may have consented to being in a place where the plaintiff would be assaulted or touched. For example, if the plaintiff was actively participating in a contract sport or at a sports event where the possibility of being hit by an object was a known risk, such as at a baseball game; or 4 Denial of Elements: As noted above, a victim must be able to prove all of the required elements of an assault and battery. Thus, when a defendant disproves one of the required elements, the charges or claims against them will fail.

How long does it take to respond to a civil lawsuit?

This means that you will have to legally respond to a civil lawsuit, once served, typically within 30 days, and deny the charges or assert any defenses available to you.

Is assault and battery a criminal offense?

However, every state also has criminal statutes for assault and battery. This means that both acts can result in prosecution by state courts, which may result in fines and jail time for the aggressor. Although both civil and criminal assault and battery share similar legal requirements of proof, many criminal statutes may vary ...

What to do if you are charged with assault?

If you have been charged with criminal assault or battery, you should contact an experienced criminal defense attorney immediately. They will be able to help you assert any available defense to the charges brought against you, defend you in court, and guide you through the entire criminal process.

What happens if you don't plead guilty to a crime?

Finally, if there is no plea bargain a preliminary hearing will be held where a judge will determine whether there is sufficient evidence to charge you with a crime.

What is a motion for a directed verdict?

Another motion that shares features with a motion for summary judgment and a motion to dismiss, a motion for a directed verdict is one whereby one party (in this case, the defense) asks the court to end the case. A motion for a directed verdict is made by the defense after the prosecution has already rested its case.

What is a motion to compel discovery?

A number of different motions can be used to ensure that both sides are able to handle the discovery process to the best of their abilities. If the other party fails to respond to a request for information, for example, then a motion to compel discovery of that information could force that party to provide a response.

How many types of motions are there?

Eleven Types of Legal Motions in U.S. Law. For a court to take most actions on an issue that is in dispute, either party in a case must ask the court to decide on that issue. When a plaintiff, prosecutor, or defendant asks the court or judge to rule on a specific issue, that request is known as a motion. Legal motions are one of the most common ...

What is a legal motion?

Legal motions are one of the most common facets of the American justice system and they ensure that controversial or disputed issues related to a case can be settled quickly and efficiently so that the case itself can ultimately be resolved in an effective manner.

What is a motion to dismiss?

A motion to dismiss, which is more popularly known as “throwing out” a case, is requested when one side (usually the defendant) contends that the plaintiff’s claim is not one on which the court can rule. In other words, when a motion to dismiss happens, the moving party is not contesting the facts as presented by the other party, ...

What is discovery motion?

Discovery motions. During the discovery process both parties to a lawsuit or case will collect information and evidence that they can then use to build their case. The discovery process, like its name suggests, is when the prosecution and defense make efforts to discover all the facts of the case.

What is a motion for summary judgment?

Motion for summary judgment. A motion for summary judgment is perhaps the most frequently made motion. While not always available in all cases, the motion for summary judgment is made before the trial begins. This motion asks the judge to make a decision on the case without going to trial. Such a motion can only occur if none of the facts ...

What is an individual lawyer?

Individual lawyers (also called attorneys) are experts in different areas of the law. Some attorneys specialize in a certain field of law, such as business, civil, criminal, or juvenile law. You will need to determine which type of attorney is right for your legal situation.

How long does bankruptcy stay on your credit report?

Keep in mind, Chapter 7 bankruptcy information stays on your credit report for 10 years. This can make it hard to get credit, buy a home, receive life insurance, or get a job. Learn more about bankruptcy, and other options for dealing with debt .