Reverse Charge Mechanism (RCM) and Forward Charge Mechanism (FCM) are two diverse ways of levying tax on goods and providers. RCM is a program during which the recipient of products or expert services is liable to pay tax to The federal government in lieu of the supplier. India is a country in which there are arranged and also unorganized sectors.
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By undertaking this, GST aims to be certain a seamless stream of credit score throughout the value chain and throughout states, fostering a harmonized countrywide marketplace for items and expert services. Also, GST seeks to broaden the tax foundation, boost tax compliance, and Increase profits for the government. Investopedia contributors origina