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  • Chapter 4 Charge of GST (RCM - ECO) (Mnemonics)

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    mohit lokhande
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    This document defines abbreviations and mnemonics related to the charge of GST in India. It provides the short form and full form of terms like DIAGRAMS (Director, Insurance Agent, Advocate, etc.), FBSCOOP (Factory, Body Corporate, Society, etc.), PAIT (services by government excluding immovable property, airport, transport), THAR (transportation of passengers, house keeping, accommodation, restaurant), and defines entities like Central Government, State Government, Local Authority, Government Authority, Reverse Charge Mechanism, Forward Charge Mechanism and more. It is a reference document for understanding the taxable entities and services under GST.

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    Chapter 4 Charge of GST (RCM _ ECO) (Mnemonics)

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    This document defines abbreviations and mnemonics related to the charge of GST in India. It provides the short form and full form of terms like DIAGRAMS (Director, Insurance Agent, Advocate, etc.), FBSCOOP (Factory, Body Corporate, Society, etc.), PAIT (services by government excluding immovable property, airport, transport), THAR (transportation of passengers, house keeping, accommodation, restaurant), and defines entities like Central Government, State Government, Local Authority, Government Authority, Reverse Charge Mechanism, Forward Charge Mechanism and more. It is a reference document for understanding the taxable entities and services under GST.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    11 views2 pages

    Chapter 4 Charge of GST (RCM - ECO) (Mnemonics)

    Uploaded by

    mohit lokhande
    This document defines abbreviations and mnemonics related to the charge of GST in India. It provides the short form and full form of terms like DIAGRAMS (Director, Insurance Agent, Advocate, etc.), FBSCOOP (Factory, Body Corporate, Society, etc.), PAIT (services by government excluding immovable property, airport, transport), THAR (transportation of passengers, house keeping, accommodation, restaurant), and defines entities like Central Government, State Government, Local Authority, Government Authority, Reverse Charge Mechanism, Forward Charge Mechanism and more. It is a reference document for understanding the taxable entities and services under GST.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 2

    Charge of GST

    4. CHARGE OF GST

    Abbreviation/Mnemonics Full Form


    DIAGRAMS D – Director
    (Section 9(3) – Services on Development Right/Floor Space Index/Long-Term Lease
    which tax is payable under
    Direct Selling Agent(Individual)
    Reverse charge)
    I – Insurance Agent
    Immovable property renting by government
    A – Advocate/Senior Advocate
    Arbitral Tribunal
    Author
    G – Goods Transport Agency (5% GTA)
    Government (CG/SG/UT/LA) services
    R – Recovery Agent
    Renting of Motor Vehicle
    A – Agent of Business Correspondent/Business Facilitator
    M – Music Composer/Photographer/Artist
    Members of Overseeing Committee (RBI)
    S – Sponsorship Services
    Security Services
    Securities lending services
    FBSCOOP F – Factory
    (GTA services to URP under GST B – Body Corporate
    – tax is payable by recipient)
    S – Society
    COO – Co-operative Society
    P – Partnership Firm (Registered/Unregistered) + AOP + LLP
    PAIT P – Service by department of Post
    (Services by Government to A – Airport Services
    Business entity excluding)
    I – Immovable Property renting
    T - Transport Services
    THAR T – Transportation of Passengers
    (Section 9(5) – Services on H – House Keeping Services
    which ECO is Liable to pay tax)
    A – Accommodation Services
    R – Restaurant Services
    CG/SG/UT/LA/GA CG – Central Government
    SG – State Government
    UT – Union Territory Government
    LA – Local Authority
    GA – Government Authority
    RCM Reverse Charge Mechanism
    FCM Forward Charge Mechanism
    BC Body Corporate
    CTA Customs Tariff Act
    TT Taxable Territory
    NTT Non-Taxable Territory
    NTOR Non-Taxable Online Recipient
    R/URP Registered/Unregistered Person
    RP Registered Person
    GTA Goods Transport Agency
    AOP Association of Persons
    RCTP Registered Casual Taxable Person

    CA Ramesh Soni 4.1


    Charge of GST
    Abbreviation/Mnemonics Full Form
    BE (TT) Business Entity in Taxable Territory
    ATO Aggregate Turnover
    PFY Preceding Financial Year
    P. Firm Partnership Firm
    DR Development Rights
    FSI Floor Space Index
    FI Financial Institutions
    JO Jurisdictional Officer
    BF/BC Business Facilitator/Business Correspondent
    NBFC Non-Banking Financial Corporation
    ECO Electronic Commerce Operator
    AP(BC) Any Person other than Body Corporate
    MV Motor Vehicle

    CA Ramesh Soni 4.2

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