How to differentiate Threshold Exemption with Reverse Charge Mechanism?
Difference between Reverse Charge Mechanism and Threshold Exemption under GST terms
What is Threshold Exemption? How does Reverse Charge Mechanism work under GST regime? What are the difference between Threshold Exemption and Reverse Charge Mechanism?
Under GST system, the following information explains about Threshold Exemption and Reverse Charge Mechanism.
As per GST terms, Threshold Exemption means Exemption which allows the person to do business without obtaining registration under GST.
What is Reverse Charge Mechanism?
Section 9(4) of the CGST Act, 2017 mandates that tax on supply of taxable goods by an unregistered supplier to a registered person will be paid by the registered person under reverse charge mechanism.
The details about Threshold Exemption and Reverse Charge Mechanism with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on Threshold Exemption and Reverse Charge Mechanism, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Threshold Exemption and Reverse Charge Mechanism separately below. You may kindly read the below links to know more about Reverse Charge Mechanism and Threshold Exemption.
Threshold Exemption under GST
Reverse Charge Mechanism Unregistered recipients under GST
The above information easily explains about Reverse Charge Mechanism and Threshold Exemption.
We hope, you have satisfied with the difference between Threshold Exemption and Reverse Charge Mechanism explained above. Do you have different thought on difference between Reverse Charge Mechanism and Threshold Exemption?
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