🇮🇳India

कॉन्सेशन GST रिवर्स चार्ज डिफॉल्ट

2 verified sources

Definition

Contract labor for F&B counters and vendor-supplied merchandise attract Reverse Charge Mechanism, requiring precise reconciliation prone to manual errors.

Key Findings

  • Financial Impact: ₹200-500 daily interest @18% on blocked ITC + ₹10,000 notice fee per default
  • Frequency: Quarterly GST audits
  • Root Cause: Manual tracking of RCM-eligible concession vendor invoices

Why This Matters

The Pitch: Theater operators face ₹10,000-1 lakh monthly GST penalties from concession reconciliation errors. Automated RCM compliance prevents interest accumulation.

Affected Stakeholders

Vendor Manager, GST Filer, Finance Controller

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Financial Impact

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Current Workarounds

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Methodology & Sources

Data collected via OSINT from regulatory filings, industry audits, and verified case studies.

Evidence Sources:

Related Business Risks

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