Proficient Partners Consultancy Taxation Executive Interview Questions and Answers

RCM stands for Reverse Charge Mechanism. Block credit in GST refers to the restriction on claiming input tax credit.

• RCM is a mechanism where the recipient of goods or services is liable to pay the tax instead of the supplier.

• RCM is applicable in certain cases such as when goods or services are purchased from an unregistered dealer.

• Block credit refers to the restriction on claiming input tax credit for certain goods or ...read more