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According to Notification No 15/2012-ST dated 17.03.2012, the proposed Reverse Charge Mechanism is made applicable from the 1st of July 2012, when Section 66B of the Finance Act, 1994 (Charge of Service Tax on and after Finance Act, 2012 - Exemption to small service providers) came into force.
Overview
Depending on the scenario, service tax must be paid by the service provider or the service receiver. As a result, when a reverse charge is made, this impacts the service tax liability of both provider and receiver. With this RegF we are introducing support for this new requirement of charging the full amount of service tax to the service receiver or splitting the service tax amount between service receiver and service provider, also considering that the percentage of service tax can vary depending on the type of the service receiver and provider (company, partnership, HUF, private person and so on). For a description of the scenarios coverage, visit the Release Notes and White Papers that are included in the release.
Important Notice to Customers
We recommend that you contact your Microsoft Dynamics Partner before installing service packs or hotfixes. It is important to verify that your environment is compatible with the service pack(s), hotfix(es), or download(s) being installed. A service pack, hotfix, or download may cause interoperability issues with customizations, and third-party products that work with your Microsoft Dynamics solution.
Downloads
Download | File Type (Size) |
---|---|
338669 v7 - IN | EXE (6.13 MB) |
We recommend that you contact your Microsoft Dynamics Partner before installing service packs or hot fixes. It is important to verify that your environment is compatible with the service pack(s) or hot fix(es) being installed. A services pack or hot fix may cause interoperability issues with customizations, and third-party products that work with your Microsoft Dynamics solution.
Support Information
For technical support questions, contact your partner or direct your questions to the Support for Business hub: https://serviceshub.microsoft.com/supportforbusiness/create