How to differentiate Reverse Charge with Revenue neutral rate?
Difference between Revenue neutral rate and Reverse Charge under GST terms
What is Reverse Charge? How does Revenue neutral rate work under GST regime? What are the difference between Reverse Charge and Revenue neutral rate?
Under GST system, the following information explains about Reverse Charge and Revenue neutral rate.
As per GST terms, “Reverse charge” means the liability to pay tax by the recipient of supply of goods or services or both instead of the supplier of such goods or services or both under sub- section (3) or sub-section (4) of section 9, or under sub-section (3) or sub-section (4) of section 5 of the Integrated Goods and Services Tax Act. And Revenue neutral rate (RNR) is a structure of different rates established in order to match the current revenue generation with revenue under GST. RNR calculation has to include the cascading effect on certain goods having no excise or sales tax implications.
The details about Reverse Charge and Revenue neutral rate with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Reverse Charge and Revenue neutral rate, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Reverse Charge and Revenue neutral rate separately below. You may kindly read the below links to know more about Revenue neutral rate and Reverse Charge.
What is Reverse Charge under GST
Term Revenue neutral rate (RNR) under GST
The above information easily explains about Revenue neutral rate and Reverse Charge.
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