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What Is Rcm In Healthcare?

What Is Rcm In Healthcare
R1 RCM February 11, 2022 – What Is Rcm In Healthcare Revenue cycle management (RCM) in healthcare is the business process that enables organizations to be paid for providing services. There are 17 unique steps in the revenue cycle, which begins with patient scheduling and ends with payment reconciliation.

The revenue cycle can be viewed in three different phases: 1)Order to Intake, 2) Care to Claim, and 3) Claim to Payment. Here are the steps in the full revenue cycle, presented within the three primary revenue cycle phases: Order to Intake 1, Scheduling 2, Pre-Registration 3, Clearance 4. Financial Counseling 5.

Online/In-Person Arrival 6. Pre-Service Payments Care to Claim 7, Level of Care 8, Case Management 9, Utilization Review 10. Charge Optimization 11. Coding 12. Acuity Capture Claim to Payment 13. Billing 14. Patient Payments 15. Denials Management 16. Customer Service 17.

What does RCM do?

Revenue cycle management (RCM) is the financial process, utilizing medical billing software, that healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final payment of a balance. RCM unifies the business and clinical sides of healthcare by coupling administrative data, such as a patient’s name, insurance provider and other personal information, with the treatment a patient receives and their healthcare data.

  • Communicating with health insurance companies is a key component of RCM,
  • When a patient schedules an appointment, the physician’s office or the hospital staff typically check the patient’s reported insurance coverage before the visit.
  • After an insured patient receives treatment for a given condition and supplies any applicable copayment, a healthcare provider or coder categorizes the nature of the treatment according to ICD-10 codes.

The hospital or care facility then sends the care summary with ICD and Current Procedural Technology codes to the patient’s insurance company to see what portion of the care will be covered by insurance, with the patient billed for the remainder.

Is RCM the same as billing?

What is the difference between medical billing and revenue cycle management? – Who remembers the term “A square is a rectangle, but a rectangle is not a square”? Revenue cycle management (RCM) and medical billing are a little like the rectangle and the square.

Medical billing is a part of revenue cycle management, but RCM goes above and beyond. RCM encompasses all the financial processes surrounding medical encounters, and includes processes like scheduling, credentialing, contracting, collections, patient portals and more. The goal of effective RCM is to examine all clinical and administrative tasks that work together to help your healthcare center successfully book appointments, bill patients, and collect payments.

RCM focuses on four big-picture areas:

All the ways your practice generates revenue All the ways you capture revenue through patient payments All the ways you capture revenue through insurance collections Learning how to improve your cycles and change processes to fill any gaps through regular reporting

What is RCM workflow?

What are RCM workflows? – RCM workflows are the processes necessary for a physician or healthcare organization to get paid for the care they provide. RCM workflows include activities like eligibility verification, claim submission, payment capture, and denial management, to name a few.

What is revenue cycle process?

What is Revenue Cycle Management in Healthcare? – Revenue cycle management is the process used by healthcare systems in the United States to track revenue from patients from their initial appointment or encounter with the healthcare system to their payment of balance.

  • Revenue cycle starts with the appointment or hospital visit and ends when the provider or hospital gets paid fully for the services provided.
  • The seven steps of revenue cycle include preregistration, registration, charge capture, claim submission, remittance processing, insurance follow-up and patient collections.

This article reviews each of these steps, what’s entailed in them, what can go wrong within the revenue cycle process, and how to prevent missteps.

What are the four major components of RCM?

Introduction – With a few exceptions, preventive maintenance has been considered the most advanced and effective maintenance technique available for use by industrial and facility maintenance organizations. A Preventive Maintenance (PM) program is based on the assumption of a “fundamental cause-and-effect relationship between scheduled maintenance and operating reliability.

  • This assumption was based on the intuitive belief that because mechanical parts wear out, the reliability of any equipment directly related to operating age.
  • It therefore followed that the more frequently equipment was overhauled, the better protected it was against the likelihood of failure.
  • The only problem was in determining what age limit was necessary to assure reliable operation.” Nowlan and Heap reached the conclusion that, “a maintenance policy based exclusively on some maximum operating age would, no matter what the age limit, have little or no effect on the failure rate,” In separate independent studies, it was noted that a difference existed between the perceived and the intrinsic design life for the majority of equipment and components.

In fact, it was discovered that in many cases equipment greatly exceeded the perceived or stated design life. Reliability-Centered Maintenance (RCM) is the optimum mix of reactive, time- or interval-based, condition-based, and proactive maintenance practices. Figure 1. Components of an RCM Program. RCM includes reactive, time-based, condition-based, and proactive tasks. In addition, a user should understand system boundaries and facility envelopes, system/equipment functions, functional failures, and failure modes, all of which are critical components of the RCM program.

What is RCM leadership?

– The RCM Fellowship scheme recognises individuals who provide exceptional leadership and deliver excellence in practice, education or research. RCM midwife members can apply to be considered for a fellowship and if successful, applicants can use the fellowship status to display their support for the RCM.

Who should pay RCM?

What is Reverse Charge Mechanism? – Typically, the supplier of goods or services pays the tax on supply. Under the reverse charge mechanism, the recipient of goods or services becomes liable to pay the tax, i.e., the chargeability gets reversed. The objective of shifting the burden of GST payments to the recipient is to widen the scope of levy of tax on various unorganized sectors, to exempt specific classes of suppliers, and to tax the import of services (since the supplier is based outside India). What Is Rcm In Healthcare

Who paid RCM?

What is the Reverse Charge Mechanism(RCM) under GST? – The Reverse Charge Mechanism (RCM) is the process of GST Payment by the receiver instead of the supplier. In this case, the liability of tax payment is transferred to the recipient/receiver instead of the supplier.

Why is RCM paid?

The concept of Reverse Charge Mechanism (RCM) was introduced in erstwhile Service Tax laws. Normally, the supplier of goods or services or both charges and collects the GST from the recipient and deposits the same with Government. However, under the RCM, the liability to deposit tax shifts from the supplier to the recipient.

The concept of RCM is incorporated under GST, but in GST regime Government has notified not only supply of certain services but also supply of certain goods under RCM, The objective of RCM is to widen the scope of levy of tax on unorganized sectors and give exemption to specific class of supplier of goods/services and import of services.

Meaning of Reverse Charge Mechanism As per Section 2(98) of the Central Goods and Services Tax Act, 2017 (‘CGST Act’), “Reverse Charge” means the liability to pay tax by the recipient of the supply of goods or services or both instead of the supplier of such goods or services or both

under sub-section (3) or sub-section (4) of section 9, or under sub-section (3) or subsection (4) of section 5 of the Integrated Goods and Services Tax Act.

Legal Provisions and Notifications The concept of RCM under GST is not applicable under normal circumstances. It is only applicable under the circumstances which are specifically mentioned in Section 9(3) and Section 9(4) of the CGST Act and in Section 5(3) and Section 5(4) of the Integrated Goods and Services Tax Act, 2017 (‘IGST Act’),

  1. Section 9(3) of the CGST Act and Section 5(3) of the IGST Act identify the specific goods or services notified by the Government under RCM.
  2. Whereas Section 9(4) of the CGST Act and Section 5(4) of the IGST Act, provides supply of goods or services by an unregistered supplier to registered recipient under RCM,

Only these two types of categories are covered under RCM. Specific goods or services notified by Government under RCM under Section 9(3) of the CGST Act and Section 5(3) of the IGST Act. “The Government may, on the recommendations of the Council, by notification, specify categories of supply of goods or services or both, the tax on which shall be paid on reverse charge basis by the recipient of such goods or services or both and all the provisions of this Act shall apply to such recipient as if he is the person liable for paying the tax in relation to the supply of such goods or services or both.” In regard to above, please note that the Government has notified the supply of goods under Section 9(3) of the CGST Act and Section 5(3) of the IGST Act vide Notification No.

Cashew nuts, not shelled or peeled; Bidi wrapper leaves (tendu); Tobacco leaves; Essential oils; Silk yarn; Raw cotton; Supply of lottery; Used vehicles, seized and confiscated goods, old and used goods, waste and scrap; Priority Sector Lending Certificate.

The supply of services under RCM has been notified vide Notification No- 13/2017 Central Tax (Rate) dated 28-06-2017 as amended from time to time under Section 9(3) of the CGST Act. The list of services covered under this notification is very wide. Further, two additional supply of services has been notified for RCM under section 5(3) of IGST Act vide Notification No- 10/2017 Integrated Tax (Rate) dated 28-06-2017 as under-

Sl. No. Category of Supply of Services Supplier of service Recipient of Services
(1) (2) (3) (4)
1 Any service supplied by any person who is located in a non-taxable territory to any person other than non-taxable online recipient. Any person located in a non-taxable territory Any person located in the taxable territory other than non-taxable online recipient.
10 Services supplied by a person located in non-taxable territory by way of transpiration of goods by a vessel from a place outside India up to the customs station of clearance in India A person located in non-taxable territory Importer, as defined in clause (26) of section 2 of the Custom Act, 1962 (52 of 1962), located in the taxable territory.

For supply of services covered under RCM, you may refer both the Notification No- 13/2017 Central Tax (Rate) dated 28-06-2017 and Notification No- 10/2017 Integrated Tax (Rate) dated 28-06-2017, Specific goods or services by an unregistered supplier to registered recipient under RCM under Section 9(4) of the CGST Act and Section 5(4) of the IGST Act.

The provision that has gathered maximum attention for its ability to create significant stress and nuisance would clearly be Section 9(4) of the CGST Act and Section 5(4) of IGST Act. Reverse Charge Section 9(4) of the CGST Act and Section 5(4) of IGST Act is also aimed to promote the organised business through GST registered person as registered dealer would prefer to purchase goods or services from registered dealers instead of un-registered dealers to avoid unnecessary difficulties as well.

It is anticipated that the provision like RCM would discourage the business transactions from unregistered dealers and they would be forced to get themselves registered under GST voluntarily even though they are not compulsorily required to get themselves registered.

It is to be noted that existing provisions of RCM have been replaced by the CGST (Amendment) Act 2018 (‘Amendment Act’), Also, various notifications had come to give exemption regarding provision of RCM. But now the amended provisions of Section 9(4) of the CGST Act and 5(4) of IGST Act have been made effected w.e.f.01/02/2019 and notified the specified persons and goods,

Now, we would like to comprehend the old and new provisions of RCM in sequence (amended and notified day by day) to understand in better a position- Erstwhile Section 9(4) of the CGST Act & Section 5(4) of the IGST Act – “the central tax in respect of the supply of taxable goods or services or both by a supplier, who is not registered, to a registered person shall be paid by such person on reverse charge basis as the recipient and all the provisions of this Act shall apply to such recipient as if he is the person liable for paying the tax in relation to the supply of such goods or services or both.” As per the above provision, whenever a registered person procures supplies from an unregistered supplier, he needs to pay GST on reverse charge basis.

Please note that all the transactions of the supply of taxable goods or services or both from an unregistered person to registered person were covered under RCM basis without any limit,A. Partial Exemption Notification No.8/2017-Central Tax dated 28 th June 2017 applicable with effect from 1 st day of July, 2017,

There were lot of hue and cry over this provision during implementation phase itself and therefore, considering the inconvenience that may be caused to the stakeholders in the procedure under Section 9(4) of the CGST Act, 2017, the Central Government, in exercise of the powers conferred by sub-section (1) of section 11 of the CGST Act, had issued a Notification No.8/2017-Central Tax dated 28 th June 2017 (‘First Notification’) applicable with effect from 1 st day of July, 2017,

  • By the said First Notification, the Central Government had exempts Intra-State supplies of goods or services or both received by a registered person from any unregistered person regarding applicability of the whole provisions of Section 9(4) of the CGST Act.
  • The said First Notification was applicable w.e.f.1 st day of July, 2017,

Please also note that the Central Government, by the proviso under the said First Notification, has also put one restriction on the said exemption by providing the limit of Rs.5,000/- in day, Therefore, if the value of Intra-State supplies of goods or services or both is more than Rs.5,000/- per day then RCM is applicable under Section 9(4) of the CGST Act.

  • Therefore, we can say that First Notification was a partial exemption notification,B.
  • Full Exemption Notification No.38/2017-Central Tax, dated 13 th October, 2017 applicable with effect from 13.10.2017.
  • As the exemption provided by the First Notification was a partial exemption, therefore, the Central Government decided to amend the said First Notification to give full exemption in case if Intra-State supplies of goods or services or both received by a registered person from any unregistered person.

It is also pertinent to note that there was no time limit in First Notification to obtain the exemption. Therefore, it was also decided by the Central Government to put the restriction for giving full exemption upto a certain time limit. In view of the above, the Central Government, in exercise of the powers conferred by sub-section (1) of section 11 of the CGST Act, 2017, had issued a Notification No.38/2017-Central Tax, dated 13 th October, 2017 (‘Second Notification’) applicable with effect from 13/10/2017.

By the said Second Notification, the Central Government had deleted the proviso to First Notification, which restricts the exemption for RCM u/s 9(4) of the CGST Act only up to the limit of Rs.5,000/- in day in case of the value of Intra-State supplies of goods or services or both. By the said amendment, the partial exemption provided under the First Notification had been converted into full exemption.

However, the time limit has been fixed for exemption under Second Notification (which was not earlier) mentioning that the exemption contained in the First Notification as amended by Second Notification, shall apply to all registered persons till the 31st day of March, 2018,

  • Pursuant to the above both Notifications i.e.
  • First and Second Notification, exemption was available to all the registered persons till March 31, 2018 without any limit in case of supply procured from unregistered supplier.
  • It is needles to mention that INTER-STATE SUPPLIES received from unregistered supplier is also exempt under corresponding Notification issued under IGST Act i.e.

Notification No.32/2017-Integrated Tax (Rate) dated 13.10.2017. Therefore, any registered person procuring taxable goods/services from unregistered suppliers, shall not be required to pay CGST under reverse charge mechanism U/s 9(4) of CGST Act, or 5(4) of IGST Act till March 31, 2018 with effect from 13th Oct, 2017,

  1. Further, the above exemption was extended till 30 th June 2018 vide Notification No.10/2018 – Central Tax (Rate) dated 23 rd March, 2018,
  2. Again, the above exemption was extended till 30 th September 2018 vide Notification No.12/2018 – Central Tax (Rate) dated 29 th June 2018,
  3. With subsequent Notifications the timeline has been extended up to 30 th September 2019 vide Notification No.22/2018-Central Tax (Rate) dated 6 th August, 2018,

_ CGST (Amendment) Act, 2018 dated 30.08.2018 for RCM. The provisions of Section 9(4) of the CGST Act deals with the applicability of RCM, wherein, the goods or services or both is being procured by the registered person from the unregistered person,

  1. Due to its wide implication, the said provisions have already undergone various amendments, however, the entire provisions of section 9(4) has been substituted by the CGST (Amendment) Act, 2018 vide published in Official Gazette on 29 th August 2018,
  2. However, it is pertinent to note that the new provisions of Section 9(4) of the CGST Act were not notified till 29 th January 2019,

But later on, the new provisions of Section 9(4) of CGST Act have been notified by the Notification No.2/2019- Central Tax, dated 29 th January 2019 notifying the CGST (Amendment) Act, 2018 w.e.f,01.02.2019, In section 9 of the principal Act, for sub-section (4), the following sub-section shall be substituted, namely:–– “(4) The Government may, on the recommendations of the Council, by notification, specify a class of registered persons who shall, in respect of supply of specified categories of goods or services or both received from an unregistered supplier, pay the tax on reverse charge basis as the recipient of such supply of goods or services or both, and all the provisions of this Act shall apply to such recipient as if he is the person liable for paying the tax in relation to such supply of goods or services or both.” By perusal of the said amended section, we can understand that the provisions of Section 9(4) of the CGST Act is not applicable to all registered persons, goods and services.

  • It is applicable only to selected categories of registered persons & Goods and services which has to be notified by the Government.
  • So, until the same is being notified, the provisions will not get effective.
  • It is also pertinent to mention that by the amendment in Section 9(4) through CGST (Amendment) Act, 2018 which has become effective w.e.f.01.02.2019, the aforesaid Exemption Notification i.e.
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Notification No.8/2017 stands rescinded w.e.f.01.02.2019. _ Notification No.07/2019- Central Tax (Rate) dated 29 th March 2019 effective from 1 st April, 2019. After a long gap, the Central Government has used its power provided under amended Section 9(4) of the CGST Act (Through CGST (Amendment) Act, 2018), What Is Rcm In Healthcare SUMMARISED POSITION Summarised position of Reverse Charge provisions on the basis of the above-mentioned respective notifications as amended time to time, are as under-

Relevant Notification Relevant Provisions/ Amendments Remarks
Section 9(4) of CGST/SGST (UTGST) Act, 2017/Section 5(4) of IGST Act, 2017 “the tax in respect of the supply of taxable goods or services or both by a supplier, who is not registered, to a registered person shall be paid by such person on reverse charge basis as the recipient and all the provisions of this Act shall apply to such recipient as if he is the person liable for paying the tax in relation to the supply of such goods or services or both.” All the transactions of the supply of taxable goods or services or both from an unregistered person to registered were covered under reverse charge basis.
Notification no.8/2017-Central Tax (Rate) dated 28th June, 2017 Central tax payable on reverse charge basis on INTRA-STATE supplies of goods or services or both received by the registered person from the unregistered person is exempted till an aggregate value of INR 5000 per day. 01.07.2017 to 12.10.2017- No Reverse Charge Mechanism upto Rs.5000 per day.
Notification no.38/2017-Central Tax (Rate) dated 13 th October, 2017 Entire central tax payable on reverse charge basis on Intra-state supplies of goods or services or both received by the registered person from an unregistered person is exempted (i.e. exemption upto INR 5000 replaced and the entire transaction was exempted) till 31 March, 2018. As the proviso was omitted and notification was effective since 13.10.2017, therefore

13.10.2017 to 31.03.2018- No Reverse Charge Mechanism is applicable u/s 9(4). 01.07.2017 to 12.10.2017- No Reverse Charge Mechanism upto Rs.5000 per day

Notification no.10/2018-Central Tax (Rate) dated 23 rd March, 2018 The above exemption was extended till 30 June, 2018 13.10.2017 to 30.06.2018- No Reverse Charge Mechanism is applicable u/s 9(4).
Notification no.12/2018-Central Tax (Rate) dated 29 th June, 2018 The above exemption was extended till 30 th September, 2018. 13.10.2017 to 30.09.2018- No RCM is applicable u/s 9(4).
Notification no.22/2018-Central Tax (Rate) dated 6 th August, 2018 The above exemption was extended till 30 th September, 2019. 13.10.2017 to 30.09.2019- No RCM is applicable u/s 9(4).
Notification no.01/2019-Central Tax (Rate) dated 29 th January, 2019 The above exemption ( Notification No.8/2017) stands rescinded w.e.f.01.02.2019. RCM is applicable u/s 9(4). But new provision of CGST (Amendment) Act 2018 shall apply.
Notification No.07/2019- Central Tax (Rate) dated 29th March, 2019. The Central Government notified the registered person u/s 9(4) as specified in said notification. The said Notification is applicable w.e.f.01.04.2019

_ Notified registered person who shall pay tax on reverse charge basis on certain specified supplies of goods or services or both received from an unregistered supplier, As mentioned above, in exercise of the powers conferred by Section 9(4) of the CGST Act, the Central Government notified the registered person and goods and/or services which shall be covered under RCM if received from unregistered suppliers.

In this regard, the Central Government has issued a Notification No.07/2019- Central Tax (Rate) dated 29 th March 2019 which has been effective from 01 April, 2019 and will be applicable on “Promoters” only for the ‘specified supplies, Under the said Notification dated 29 th March, 2019, three kinds of supplies have been specified for which ‘promoter’ shall be liable to pay tax under reverse charge.1.

For Input and input Service for Construction of Project: If ‘Promoter’ (Recipient) purchased input goods and services used in the construction of project from the unregistered person, the he is liable to pay GST under RCM on the supplies made from unregistered supplier under Section 9(4) of CGST Act.

In respect of shortfall from the minimum value of goods or services or both required to be purchases for construction of project. Notification No.07/2019- Central Tax (Rate) dated 29 th March 2019 prescribes that- “Supply of such goods and services or both which constitute the shortfall from the minimum value of goods or services or both required to be purchased by a promoter for construction of project, in a financial year (or part of the financial year till the date of issuance of completion certificate or first occupation, whichever is earlier) as prescribed in notification No.11/ 2017- Central Tax (Rate), dated 28th June, 2017, at items (i), (ia), (ib), (ic) and (id) against serial number 3 in the Table, published in Gazette of India vide G.S.R.

No.690, dated 28th June, 2017, as amended” Also, the term used in the notification “shortfall from the minimum value of goods or services or both required to be purchased by a promoter” means, minimum *80% of input and input services or both required to be purchased from registered person and 20% can be purchase from unregistered person.

Also, if this condition gets failed, promoted has to be pay RCM on the shortfall from 80% threshold. Minimum value for the purpose is prescribed as 80% of the value of input & Input Services. However, value of input Services by way of grant of development rights, long term lease of land (against upfront payment in the form of premium, salami, development charges etc.) or FSI (including additional FSI) are excluded for calculating 80% procurement limit.

*The condition in Notification No.3/2019-Central Tax (Rate) dated 29th March 2019 specifies that 80% of inputs and input services should be procured from registered person. To understand : Suppose a promoter purchased 60% of input and input services used in the construction of project from registered supplier.

Promoter purchased input and input services used in the construction of project from registered supplier 60%
Promoter purchased Cement used in the construction of project from unregistered person. * 15%
Other purchases from unregistered person 25%
Promoter is required to purchase minimum 80% of input and input services or both required to be purchased from registered person
Shortfall from the minimum value of goods or services or both required to be purchased by a promoter 5%

Please note that even if Promoter purchased input and input services used in the construction of project from registered supplier is 82% of total purchase, then promoter is still liable to pay on purchase of cement i.e.15% under RCM (see Notification No.24/2019-Central Tax (Rate) dated 30.09.2019 ) ),

Promoter purchased input and input services used in the construction of project from registered supplier. 60%
Promoter purchased Cement used in the construction of project from unregistered person., 15%
Input services on which tax is paid under reverse charge under Section 9(3) of the CGST Act. 13%
Other purchases from unregistered person. 12%
Promoter is required to purchase minimum 80% of input and input services or both required to be purchased from registered person.
Shortfall from the minimum value of goods or services or both required to be purchased by a promoter NIL

Please also note that inputs and input services on which tax is paid by promoter under reverse charge under Section 9(3) of CGST Act shall be deemed to have been procured from registered person. Please also note that input & input services from composition dealer shall be considered as purchase from registered person paying taxes under composition scheme.

  • Please also note that the calculations of shortfalls are to be done financial year-wise.
  • The excess % of purchased from registered suppliers in a financial year cannot be adjusted in a next financial year.
  • Caution: Inward supplies of exempted goods/services shall be included in the value of supplies from unregistered persons while calculating threshold of 80% – FAQ (Part II- issued by CBI&C vide Circular F No.354/32/2019-Tax Research Unit dated 14-5-2019 ) Expenditure such as salaries, wages etc should not be considered in calculating the 80%threshold of input and input services because these are not supplies under GST Schedule III.

GST Rate : The GST Rate is 18 % even if the actual rate of GST in case of some of inputs or input services is lower than 18% – (Sr No.452Q of Schedule III of Notification No.08/2019-CT (R) dated 28-6-2017 as inserted w.e.f.1-4-2019.) 2. For Purchase of Cement: Notification No.07/2019- Central Tax (Rate) dated 29 th March 2019 prescribes that- ” Cement falling in chapter heading 2523 in the first schedule to the Customs Tariff Act, 1975 (51 of 1975) which constitute the shortfall from the minimum value of goods or services or both required to be purchased by a promoter for construction of project, in a financial year (or part of the financial year till the date of issuance of completion certificate or first occupation, whichever is earlier) as prescribed in notification No.11/ 2017- Central Tax (Rate), dated 28th June, 2017, at items (i), (ia), (ib), (ic) and (id) against serial number 3 in the Table, published in Gazette of India vide G.S.R.

No.690, dated 28th June, 2017, as amended” The Notification No.24/2019-Central Tax (Rate) dated 30.09.2019 has amended the category of Cement from Notification No.07/2019- Central Tax (Rate), “Cement falling in chapter heading 2523 in the first schedule to the Customs Tariff Act, 1975 (51 of 1975).” In simple terms: As per Notification No.24/2019-Central Tax (Rate) dated 30 September, 2019, RCM will be applicable on any amount of purchase of ‘Cement’ by the “promoter” from an unregistered supplier for the construction of project during the financial year, irrespective of the condition of 20/80%, as in case of input goods and services at point 1 above i.e.

on any purchase from unregistered person, RCM is applicable. At present GST Rate of Tax for cement is 28%. This tax will be paid under RCM in the same month of purchase. After considering payment of GST on cement under reverse charge (if any), at least 80% of the procurement of inputs and input services used in supplying the real estate project service shall be received from registered supplier only.

In case requirement of procurement of 80% from registered suppliers is not achieved, and there is a shortfall in procurement from registered supplier, GST @18% is payable on value to the extent of shortfall.3. For Purchase Capital goods: Notification No.07/2019- Central Tax (Rate) dated 29 th March 2019 prescribes that- “Capital goods falling under any chapter in the first schedule to the Customs Tariff Act, 1975 (51 of 1975) supplied to a promoter for construction of a project on which tax is payable or paid at the rate prescribed for items (i), (ia), (ib), (ic) and (id) against serial number 3 in the Table, in notification No.11/ 2017- Central Tax (Rate), dated 28th June, 2017, published in Gazette of India vide G.S.R.

No.690, dated 28th June, 2017, as amended.” Notification No.07/2019- Central Tax (Rate), “promoter” is liable to pay GST under RCM for purchase of any capital goods from any unregistered supplier for construction of project during the financial year.

Promoter purchased input and input services used in the construction of project from registered supplier. 82%
Promoter purchased Cement used in the construction of project from unregistered person., 05%
Capital Goods purchased from unregistered person. 10%
Other purchases from unregistered person. 03%
Promoter is required to purchase minimum 80% of input and input services or both required to be purchased from registered person.
Shortfall from the minimum value of goods or services or both required to be purchased by a promoter NIL

For the purpose of this notification i.e. Notification No.07/2019- Central Tax (Rate) dated 29 th March 2019, – (i) the term “promoter” shall have the same meaning as assigned to it in clause (zk) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016) ; (ii) “project” shall mean a Real Estate Project (REP) or a Residential Real Estate Project (RREP); (iii) the term “Real Estate Project (REP)” shall have the same meaning as assigned to it in in clause (zn) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016); (iv) “Residential Real Estate Project (RREP)” shall mean a REP in which the carpet area of the commercial apartments is not more than 15 per cent.

  1. Of the total carpet area of all the apartments in the REP.
  2. V) the term “floor space index (FSI)” shall mean the ratio of a building’s total floor area (gross floor area) to the size of the piece of land upon which it is built.
  3. CGST (RATE) NOTIFICATION Reverse Charge on certain specified supplies of goods Notification No 4/2017 –Central Tax (Rate), Dated 28.06.2017,

In exercise of the powers conferred by sub-section (3) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby specifies the supply of goods, the description of which is specified in column (3), of the Table below an falling under the tariff item, sub-heading, heading or Chapter, as the case may be, as specified in the corresponding entry in column (2) of the said Table, made by the person as specified in the corresponding entry in column (4), in respect of which the central tax shall be paid on reverse charge basis by the recipient of the intra-state supply of such goods as specified in the corresponding entry in column (5) and all the provisions of the said Act shall apply to such recipient, namely:- TABLE

S. No. Tariff item, sub-heading heading or Chapter Description of supply of Goods Supplier of goods Recipient of supply
(1) (2) (3) (4) (5)
1. 0801 Cashew nuts, not shelled or peeled Agriculturist Any registered person
2. 1401 90 10 Bidi wrapper leaves (tendu) Agriculturist Any registered person
3. 2401 Tobacco leaves Agriculturist Any registered person
1
4. 5004 to 5006 Silk yarn Any person who manufactures silk yam from raw silk or silk worn cocoons for supply of silk yarn. Any registered person
2
5. Supply of lottery State Government, Union Territory or any local authority Lottery distributor or selling agent. Explanation- for the purposes of this entry, lottery distributor or selling agent has the same meaning as assigned to it in clause (c) of Rule 2 of the Lotteries (regulation) Rules, 2010, made under the provisions of sub-section (1) of section 11 of the Lotteries (Regulation) Act, 1998 (17 of 1998)
3
1

Explanation:- (1) in this Table, “tariff item”, “sub-heading”, “heading” and “Chapter” shall mean respectively a tariff item, sub-heading, heading or chapter, as specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975). (2) The rules for the interpretation of the First Schedule to the said Customs Tariff Act, 1975, including the Section and Chapter Notes and the General Explanatory Notes of the First Schedule shall, so far as may be, apply to the interpretation of this notification.2.

This notification shall come into force with effect from the 1 st day of July 2017. _ 1. Inserted by Notification No.10/2021-Central Tax (Rate), dated 30.09.2021, w.e.f.01.10.2021,2. Inserted by Notification No.43/2017-Central Tax (Rate), dated 14.11.2017, w.e.f.15.11.2017,3. Inserted by Notification No.36/2017-Central Tax (Rate), dated 13.10.2017, w.e.f.13.10.2017.

IGST (RATE) NOTIFICATION Reverse Charge on certain specified supplies of goods Notification No 4/2017 –Integrated Tax (Rate), Dated 28.06.2017, In exercise of the power conferred by sub-section (3) of section 5 of the Integrated Goods and Services Tax Act, 2017 (13of 2017), the Central Government, on the recommendation of thee Council, hereby specifies the supply of goods, the description of which is specified in column (3), of the Table below an falling under the tariff item, sub-heading, heading or Chapter, as the case may be, as specified in the corresponding entry in column (2) of the said Table, made by the person as specified in the corresponding entry in column (4), in respect of which the integrated tax shall be paid on reverse charge basis by the recipient of the 1 supply of such goods as specified in the corresponding entry in column (5) and all the provisions of the said Act shall apply to such recipient, namely:- TABLE

S. No. Tariff item, sub-heading heading or Chapter Description of supply of Goods Supplier of goods Recipient of supply
(1) (2) (3) (4) (5)
1. 0801 Cashew nuts, not shelled or peeled Agriculturist Any registered person
2. 1401 90 10 Bidi wrapper leaves (tendu) Agriculturist Any registered person
3. 2401 Tobacco leaves Agriculturist Any registered person
2
4. 5004 to 5006 Silk yarn Any person who manufactures silk yam from raw silk or silk worn cocoons for supply of silk yarn. Any registered person
3
5. Supply of lottery State Government, Union Territory or any local authority Lottery distributor or selling agent. Explanation- for the purposes of this entry, lottery distributor or selling agent has the same meaning as assigned to it in clause (c) of Rule 2 of the Lotteries (regulation) Rules, 2010, made under the provisions of sub-section (1) of section 11 of the Lotteries (Regulation) Act, 1998 (17 of 1998)
4
2
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Explanation:- (1) in this Table, “tariff item”, “sub-heading”, “heading” and “Chapter” shall mean respectively a tariff item, sub-heading, heading or chapter, as specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975). (2) The rules for the interpretation of the First Schedule to the said Customs Tariff Act, 1975, including the Section and Chapter Notes and the General Explanatory Notes of the First Schedule shall, so far as may be, apply to the interpretation of this notification.2.

This notification shall come into force with effect from the 1 st day of July 2017. _ 1. Substituted for “intra-State” by corrigendum GST 757(E), dated 30.06.2017.2. Inserted by Notification No.10/2021- Integrated Tax (Rate), dated 30.09.2021, w.e.f.01.10.2021.3. Inserted by Notification No.45/2017- Integrated Tax (Rate), dated 14.11.2017, w.e.f.15.11.2017.4.

Inserted by Notification No.37/2017- Integrated Tax (Rate), dated 13.10.2017, w.e.f.13.10.2017. CGST (RATE) NOTIFICATION Reverse Charge on certain specified supplies of services. Notification No 13/2017 –Central Tax (Rate), Dated 28.06.2017, In exercise of the powers conferred by sub-section (3) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council hereby notifies that on categories of supply of services mentioned in column (2) of the Table below, supplied by a person as specified in column (3) of the said Table, the whole of central tax leviable under section 9 of the said Central Goods and Services Tax Act, shall be paid on reverse charge basis by the recipient of the such services as specified in column (4) of the said Table:- TABLE

Sl. No. Category of Supply of Services Supplier of service Recipient of Services
(1) (2) (3) (4)
1 Supply of Services by a goods transport agency (GTA) 1 ] in respect of transportation of goods by road to- (a) any factory registered under or governed by the Factories Act, 1948(63 of 1948);or (b) any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any other law for the time being in force in any part of India; or (c) any co-operative society established by or under any law; or (d) any person registered under the Central Goods and Services Tax Act or the Integrated Goods and Services Tax Act or the State Goods and Services Tax Act or the Union Territory Goods and Services Tax Act; or (e) any body corporate established, by or under any law; or (f) any partnership firm whether registered or not under any law including association of persons; or (g) any casual taxable person.3 4 Goods Transport Agency (GTA) (a) Any factory registered under or governed by the Factories Act, 1948(63 of 1948); or (b) any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any other law for the time being in force in any part of India; or (c) any co-operative society established by or under any law; or (d) any person registered under the Central Goods and Services Tax Act or the Integrated Goods and Services Tax Act or the State Goods and Services Tax Act or the Union Territory Goods and Services Tax Act; or (e) any body corporate established, by or under any law; or (f) any partnership firm whether registered or not under any law including association of persons; or (g) any casual taxable person; located in the taxable territory.
2 5 An individual advocate including a senior advocate or firm of advocates. Any business entity located in the taxable territory
3 Services supplied by an arbitral tribunal to a business entity An arbitral tribunal. Any business entity located in the taxable territory.
4 Services provided by way of sponsorship to any body corporate or partnership firm. Any person Any body corporate or partnership firm located in the taxable territory.
5 Services supplied by the Central Government, State Government, Union territory or local authority to a business entity excluding, – (1) renting of immovable property, and (2) services specified below- (i) services by the Department of Posts 6 ; (ii) services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport; (iii) transport of goods or passengers. Central Government, State Government, Union territory or local authority Any business entity located in the taxable territory.
7
4
8
6 Services supplied by a director of a company or a body corporate to the said company or the body corporate. A director of a company or a body corporate The company or a body corporate located in the taxable territory.
7 Services supplied by an insurance agent to any person carrying on insurance business. An insurance agent Any person carrying on insurance business, located in the taxable territory.
8 Services supplied by a recovery agent to a banking company or a financial institution or a nonbanking financial company. A recovery agent A banking company or a financial institution or a non-banking financial company, located in the taxable territory.
9
10
11
12
3
10
10

Explanation – for the purpose of this notification,- (a) The person who pays or is liable to pay freight for the transportation of goods by road in goods carriage, located in the taxable territory shall be treated as the person who receives the service for the purpose of this notification.

(b) “Body Corporate” has the same meaning as assigned to it in clause (11) of section 2 of the Companies Act, 2013 ; (c) the business entity located in the taxable territory who is litigant, applicant or petitioner, as the case may be, shall be treated as the person who receives the legal services for the purpose of this notification; (d) the words and expressions used and not defined in this notification but defined in the Central Goods and Services Tax Act, the Integrated Goods and Services Tax Act, and the Union Territory Goods and Services Tax Act shall have the same meanings as assigned to them in those Acts; 1 7 12 3 8 2.

This notification shall come into force on the 1 st day of July, 2017.10 4 _ 1. Inserted by Notification No.22/2017-Central Tax (Rate), dated 22.08.2017,2. Words “who has not paid central tax at the rate of 6%,” omitted by Notification No.5/2022-Central Tax (Rate), dated 13.07.2022, w.e.f.18.07.2022.3.

  • Inserted by Notification No.29/2018-Central Tax (Rate), dated 31.12.2018, w.e.f.1.1.2019.4.
  • Inserted by Notification No.5/2022-Central Tax (Rate), dated 13.07.2022, w.e.f.18.07.2022.5.
  • As corrected by Corrigendum GSR 1199(E), dated 25.09.2017.6.
  • Word “by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Central Government, State Government or Union territory or local authority” omitted by Notification No.5/2022-Central Tax (Rate), dated 13.07.2022, we.f.18.07.2022.7.

Inserted by Notification No.3/2018-Central Tax (Rate), dated 25.01.2018, w.e.f.25.01.2018.8. Inserted by Notification No.5/2019-Central Tax (Rate), dated 29.03.2019, w.e.f.1.04.2019.9. Substituted by Notification No.22/2019-Central Tax (Rate), dated 30.09.2019, w.e.f.1.10.2019.

9 Supply of services by an author, music composer, photographer, artist or the like by way of transfer or permitting the use or enjoyment of a copyright covered under clause (a) of sub-section (1) of section 13 of the Copyright Act, 1957 relating to original literary, dramatic, musical or artistic works to a publisher, music company, producer or the like. Author or music composer, photographer, artist, or the like Publisher, music company, producer or the like, located in the taxable territory.

10. Inserted by Notification No.22/2019-Central Tax (Rate), dated 30.09.2019, w.e.f.1.10.2019.11. Inserted by Notification No.33/2017-Central Tax (Rate), dated 13.10.2017, w.e.f.13.10.2017.12. Inserted by Notification No.15/2018-Central Tax (Rate), dated 26.07.2018, w.e.f.27.07.2018.13.

15 Services provided by way of renting of a motor vehicle provided to a body corporate. Any person other than a body corporate, paying central tax at the rate of 2.5% on renting of motor vehicles with input tax credit only of input service in the same line of business Any body corporate located in the taxable territory.

IGST (RATE) NOTIFICATION Reverse Charge on certain specified supplies of services. Notification No 10/2017 –Integrated Tax (Rate), Dated 28.06.2017, In exercise of the powers conferred by sub-section (3) of section 5 of the Integrated Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council hereby notifies that on categories of supply of services mentioned in column (2) of the Table below, supplied by a person as specified in column (3) of the said Table, the whole of integrated tax leviable under section 5 of the said Integrated Goods and Services Tax Act, shall be paid on reverse charge basis by the recipient of the such services as specified in column (4) of the said Table:- TABLE

Sl. No. Category of Supply of Services Supplier of service Recipient of Services
(1) (2) (3) (4)
1 Any service supplied by any person who is located in a non-taxable territory to any person other than non-taxable online recipient. Any person located in a non-taxable territory Any person located in the taxable territory other than non-taxable online recipient.
2 Supply of Services by a goods transport agency (GTA) 1 ] in respect of transportation of goods by road to- (a) any factory registered under or governed by the Factories Act, 1948(63 of 1948);or (b) any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any other law for the time being in force in any part of India; or (c) any co-operative society established by or under any law; or (d) any person registered under the Central Goods and Services Tax Act or the Integrated Goods and Services Tax Act or the State Goods and Services Tax Act or the Union Territory Goods and Services Tax Act; or (e) any body corporate established, by or under any law; or (f) any partnership firm whether registered or not under any law including association of persons; or (g) any casual taxable person.3 4 Goods Transport Agency (GTA) (a) Any factory registered under or governed by the Factories Act, 1948 (63 of 1948); or (b) any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any other law for the time being in force in any part of India; or (c) any co-operative society established by or under any law; or (d) any person registered under the Central Goods and Services Tax Act or the Integrated Goods and Services Tax Act or the State Goods and Services Tax Act or the Union Territory Goods and Services Tax Act; or (e) any body corporate established, by or under any law; or (f) any partnership firm whether registered or not under any law including association of persons; or (g) any casual taxable person; located in the taxable territory.
3 5 An individual advocate including a senior advocate or firm of advocates. Any business entity located in the taxable territory
4 Services supplied by an arbitral tribunal to a business entity An arbitral tribunal. Any business entity located in the taxable territory.
5 Services provided by way of sponsorship to any body corporate or partnership firm. Any person Any body corporate or partnership firm located in the taxable territory.
6 Services supplied by the Central Government, State Government, Union territory or local authority to a business entity excluding, – (1) renting of immovable property, and (2) services specified below- (i) services by the Department of Posts 6 ; (ii) services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport; (iii) transport of goods or passengers. Central Government, State Government, Union territory or local authority Any business entity located in the taxable territory.
7
4
8
7 Services supplied by a director of a company or a body corporate to the said company or the body corporate. A director of a company or a body corporate The company or a body corporate located in the taxable territory.
8 Services supplied by an insurance agent to any person carrying on insurance business. An insurance agent Any person carrying on insurance business, located in the taxable territory.
9 Services supplied by a recovery agent to a banking company or a financial institution or a nonbanking financial company. A recovery agent A banking company or a financial institution or a non-banking financial company, located in the taxable territory.
10 Services supplied by a person located in non-taxable territory by way of transpiration of goods by a vessel from a place outside India up to the customs station of clearance in India A person located in non-taxable territory Importer, as defined in clause (26) of section 2 of the Custom Act, 1962 (52 of 1962), located in the taxable territory.
9
10
11
12
3
10
10

Explanation – for the purpose of this notification,- (a)The person who pays or is liable to pay freight for the transportation of goods by road in goods carriage, located in the taxable territory shall be treated as the person who receives the service for the purpose of this notification.

(b) “Body Corporate” has the same meaning as assigned to it in clause (11) of section 2 of the Companies Act, 2013; (c) the business entity located in the taxable territory who is litigant, applicant or petitioner, as the case may be, shall be treated as the person who receives the legal services for the purpose of this notification; (d) the words and expressions used and not defined in this notification but defined in the Central Goods and Services Tax Act, the Integrated Goods and Services Tax Act, and the Union Territory Goods and Services Tax Act shall have the same meanings as assigned to them in those Acts; 1 7 12 3 8 2.

This notification shall come into force on the 1 st day of July, 2017.10 4 _ 1. Inserted by Notification No.22/2017-Integrated Tax (Rate), dated 22.08.2017,2. Words “who has not paid integrated tax at the rate of 12%,” omitted by Notification No.5/2022- Integrated (Rate), dated 13.07.2022, w.e.f.18.07.2022.3.

  • Inserted by Notification No.30/2018- Integrated Tax (Rate), dated 31.12.2018, w.e.f.1.1.2019.4.
  • Inserted by Notification No.5/2022- Integrated (Rate), dated 13.07.2022, w.e.f.18.07.2022.5.
  • As corrected by Corrigendum GSR 1200(E), dated 25.09.2017.6.
  • Word “by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Central Government, State Government or Union territory or local authority” omitted by Notification No.5/2022-Integrated Tax (Rate), dated 13.07.2022, we.f.18.07.2022.7.

Inserted by Notification No.3/2018-Integrated Tax (Rate), dated 25.01.2018, w.e.f.25.01.2018.8. Inserted by Notification No.5/2019-Integrated Tax (Rate), dated 29.03.2019, w.e.f.1.04.2019.9. Substituted by Notification No.21/2019-Integreted Tax (Rate), dated 30.09.2019, w.e.f.1.10.2019.

11 Supply of services by an author, music composer, photographer, artist or the like by way of transfer or permitting the use or enjoyment of a copyright covered under clause (a) of sub-section (1) of section 13 of the Copyright Act, 1957 relating to original literary, dramatic, musical or artistic works to a publisher, music company, producer or the like. Author or music composer, photographer, artist, or the like Publisher, music company, producer or the like, located in the taxable territory.

10. Inserted by Notification No.21/2019-Integreted Tax (Rate), dated 30.09.2019, w.e.f.1.10.2019.11. Inserted by Notification No.34/2017-Integrated Tax (Rate), dated 13.10.2017, w.e.f.13.10.2017.12. Inserted by Notification No.16/2018-Integrated Tax (Rate), dated 26.07.2018, w.e.f.27.07.2018.13.

17 Services provided by way of renting of a motor vehicle provided to a body corporate. Any person other than a body corporate, paying integrated tax at the rate of 5% on renting of motor vehicles with input tax credit only of input service in the same line of business Any body corporate located in the taxable territory.

CGST (RATE) NOTIFICATION Notified registered person who shall pay tax on reverse charge basis on certain specified supplies of goods or services or both received from an unregistered supplier. Notification No 7/2019 –Central Tax (Rate), Dated 29.03.2019, In exercise of the powers conferred by sub-section (4) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby notifies that the registered person specified in column (3) of the table below, shall in respect of supply of goods or services or both specified in column (2) of the Table below, received from an unregistered supplier shall pay tax on reverse charge basis as recipient of such goods or services or both, namely:-

Sl. No. Category of supply of goods and services Recipient of goods and services
(1) (2) (3)
1 Supply of such goods and services or both which constitute the shortfall from the minimum value of goods or services or both required to be purchased by a promoter for construction of project, in a financial year (or part of the financial year till the date of issuance of completion certificate or first occupation, whichever is earlier) as prescribed in notification No.11/ 2017- Central Tax (Rate), dated 28th June, 2017, at items (i), (ia), (ib), (ic) and (id) against serial number 3 in the Table, published in Gazette of India vide G.S.R. No.690, dated 28th June, 2017, as amended. Promoter.
2 1 Promoter.
3 Capital goods falling under any chapter in the first schedule to the Customs Tariff Act, 1975 (51 of 1975) supplied to a promoter for construction of a project on which tax is payable or paid at the rate prescribed for items (i), (ia), (ib), (ic) and (id) against serial number 3 in the Table, in notification No.11/ 2017- Central Tax (Rate), dated 28th June, 2017, published in Gazette of India vide G.S.R. No.690, dated 28th June, 2017, as amended. Promoter.

Explanation – for the purpose of this notification- (i) the term “promoter” shall have the same meaning as assigned to it in in clause (zk) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016); (ii) “project” shall mean a Real Estate Project (REP) or a Residential Real Estate Project (RREP); (iii) the term “Real Estate Project (REP)” shall have the same meaning as assigned to it in in clause (zn) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016); (iv) “Residential Real Estate Project (RREP)” shall mean a REP in which the carpet area of the commercial apartments is not more than 15 per cent.

of the total carpet area of all the apartments in the REP. (v) the term “floor space index (FSI)” shall mean the ratio of a building’s total floor area (gross floor area) to the size of the piece of land upon which it is built.2. This notification shall come into force with effect from the 1st of April, 2019.

_ 1. Substituted for “Cement falling in chapter heading 2523 in the first schedule to the Customs Tariff Act, 1975 (51 of 1975) which constitute the shortfall from the minimum value of goods or services or both required to be purchased by a promoter for construction of project, in a financial year (or part of the financial year till the date of issuance of completion certificate or first occupation, whichever is earlier) as prescribed in notification No.11/ 2017- Central Tax (Rate), dated 28th June, 2017, at items (i), (ia), (ib), (ic) and (id) against serial number 3 in the Table, published in Gazette of India vide G.S.R.

  1. No.690, dated 28th June, 2017, as amended” by Notification No.24/2019-Central Tax (Rate), dated 30.09.2019, w.e.f.1.10.2019.
  2. IGST (RATE) NOTIFICATION Notified registered person who shall pay tax on reverse charge basis on certain specified supplies of goods or services or both received from an unregistered supplier.
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Notification No 7/2019 –Integrated Tax (Rate), Dated 29.03.2019, In exercise of the powers conferred by sub-section (4) of section 5 of the Integrated Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby notifies that the registered person specified in column (3) of the table below, shall in respect of supply of goods or services or both specified in column (2) of the Table below, received from an unregistered supplier shall pay tax on reverse charge basis as recipient of such goods or services or both, namely:-

Sl. No. Category of supply of goods and services Recipient of goods and services
(1) (2) (3)
1 Supply of such goods and services or both which constitute the shortfall from the minimum value of goods or services or both required to be purchased by a promoter for construction of project, in a financial year (or part of the financial year till the date of issuance of completion certificate or first occupation, whichever is earlier) as prescribed in notification No.8/ 2017- Integrated Tax (Rate), dated 28th June, 2017, at items (i), (ia), (ib), (ic) and (id) against serial number 3 in the Table, published in Gazette of India vide G.S.R. No.683(E), dated 28th June, 2017, as amended. Promoter.
2 1 Promoter.
3 Capital goods falling under any chapter in the first schedule to the Customs Tariff Act, 1975 (51 of 1975) supplied to a promoter for construction of a project on which tax is payable or paid at the rate prescribed for items (i), (ia), (ib), (ic) and (id) against serial number 3 in the Table, in notification No.8/ 2017- Integrated Tax (Rate), dated 28th June, 2017, published in Gazette of India vide G.S.R. No.683, dated 28th June, 2017, as amended. Promoter.

Explanation – for the purpose of this notification- (vi) the term “promoter” shall have the same meaning as assigned to it in in clause (zk) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016); (vii) “project” shall mean a Real Estate Project (REP) or a Residential Real Estate Project (RREP); (viii) the term “Real Estate Project (REP)” shall have the same meaning as assigned to it in in clause (zn) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016); (ix) “Residential Real Estate Project (RREP)” shall mean a REP in which the carpet area of the commercial apartments is not more than 15 per cent.

  • Of the total carpet area of all the apartments in the REP.
  • X) the term “floor space index (FSI)” shall mean the ratio of a building’s total floor area (gross floor area) to the size of the piece of land upon which it is built.2.
  • This notification shall come into force with effect from the 1st of April, 2019.

_ 2. Substituted for “Cement falling in chapter heading 2523 in the first schedule to the Customs Tariff Act, 1975 (51 of 1975) which constitute the shortfall from the minimum value of goods or services or both required to be purchased by a promoter for construction of project, in a financial year (or part of the financial year till the date of issuance of completion certificate or first occupation, whichever is earlier) as prescribed in notification No.8/ 2017- Integrated Tax (Rate), dated 28th June, 2017, at items (i), (ia), (ib), (ic) and (id) against serial number 3 in the Table, published in Gazette of India vide G.S.R.

No.683(E), dated 28th June, 2017, as amended” by Notification No.23/2019-Integrated Tax (Rate), Dated 30.09.2019, w.e.f.1.10.2019. ***** Disclaimer: Nothing contained in this document is to be construed as a legal opinion or view of either of the author whatsoever and the content is to be used strictly for informational and educational purposes.

While due care has been taken in preparing this article, certain mistakes and omissions may creep in. the author does not accept any liability for any loss or damage of any kind arising out of any inaccurate or incomplete information in this document nor for any actions taken in reliance thereon.

How many phases are there in RCM?

3 Phases of RCM: Use Best Practices to Improve Performance.

What does RCM mean in compliance?

(i) Regulatory Compliance Management (RCM) – The term “Regulatory Compliance Management” (RCM) in this guideline refers to the set of key controls through which a FRFI manages regulatory compliance risk.

What are the 3 steps in the revenue cycle?

February 9, 2022 4 min read Every healthcare organization has to have a plan for how they approach revenue cycle management. This vital practice enables companies to monitor the revenue they receive from patients from the beginning of their care process to the end, providing them with data that facilities can use to improve practices and patient care.

If you’re interested in working in the healthcare field in a non-clinical role, then healthcare revenue cycle management might be a career to consider. Revenue cycle management is an important business measure, as it helps ensure that patients aren’t getting overbilled and that your care facility is being properly paid by insurance companies.

In this article, we’ll explain the basics of healthcare revenue cycle management, explore how medical billing and coding play a role in the cycle and more as we explore the following sections:

What is Healthcare Revenue Cycle Management? What are the Main Steps in Healthcare Revenue Cycle Management? How is Healthcare Revenue Cycle Management Relevant to Medical Billing and Coding?

Healthcare revenue cycle management is the process of tracking and analyzing revenue received from patients during the course of their care process. The cycle begins when the first appointments are booked and concludes once the final balance of their cost of care is paid.

  • Like an accounting process in business, healthcare revenue cycle management considers a range of factors, including what it costs a facility to provide care to the patient.
  • By analyzing these factors alongside the revenue generated during the cycle, care facilities can identify which procedures or methods lead to generating the most revenue.

Once this information is in hand, hospital managers and other decision makers at a care facility can use it to decide where funds can be allocated and how to increase revenue to fund a larger range of services to meet patient needs. The process of healthcare revenue cycle management can be simplified into three steps: registration, medical coding and medical billing.

Registration: The healthcare revenue cycle management process begins as soon as a patient schedules their first appointment. This step requires the care facility to gather all of the information they will need to treat and bill the patient, such as the patient’s name, address, contact information, insurance and any medical records. While the patient is responsible for providing much of this information, it’s the responsibility of the care provider to ensure that all the information they receive is accurate and up to date. Medical coding: During this process, the care facility’s medical coding staff uses standardized medical coding methods to apply codes to the procedures that a patient receives. When done properly, medical coding helps to keep the care process moving smoothly without administrative interruption. Medical billing: Finally, the healthcare revenue cycle management process concludes when the patient pays their final bill. To ensure that the bill they receive is accurate, a medical billing professional reviews the work of the medical coder and scrubs the bill for any potential errors. By scrubbing for errors, they can ensure that the bill the patient is provided does not get rejected by their insurance company, making the entire process smoother for all parties involved.

Medical billing and medical coding both play a critical role in healthcare revenue cycle management, particularly in the second and third steps of the cycle. Both medical billing and medical coding make the revenue process run more smoothly by having highly trained, dedicated professionals who can properly employ code procedures and input insurance details and finalize bills.

What is RCM standard?

FAQ: What is the RCM Mark? Created in 2013, the Regulatory Compliance Mark (RCM Mark) replaced both the C-Tick and A-Tick certification programs in Australia. By combining compliance requirements for telecom equipment and EME/EMC testing, the RCM Mark provides a single, integrated approach to certification for wireless devices in Australia and New Zealand.

The steps to obtaining an RCM mark differ slightly from C-Tick and A-Tick programs, causing some confusion about how to achieve proper certification. Our experts provide answers to frequently asked questions, helping you make informed decisions about the certification process. RCM Marking ensures the safety and performance of telecoms, electrical, and wireless devices.

By placing an RCM Mark on products and equipment, manufacturers certify that their devices meet all applicable standards required for product safety and performance. Devices that fall under the RCM Mark are given a classification of Level 1, Level 2, or Level 3, depending on the amount of assumed electrical risk.

Examples of applicable products include: Consumer telecoms equipment Consumer cables and connectors Radio and wireless communication devices Electronic vehicle devices

Level 3 devices require third-party safety approval from a certified body located in Australia or New Zealand. Element has local partners ready to assist in getting your products approved and on the market as quickly as possible. The process for obtaining an RCM Mark is similar to other certification programs, such as,

After determining which labeling notice is correct for your product and which standards the product must conform to, compliance must be demonstrated through test results and technical documentation. Once testing is done, and all relevant documentation is compiled, a Declaration of Conformity (DoC) is completed.

In Australia and New Zealand, a local representative must sign off on the DoC before the product can be taken to market. (While most devices can be signed either in Australia or New Zealand, some wireless products must be signed in both, and some telecoms products require additional certification.) After all of these conditions are met, manufacturers can register their products with the Electrical Equipment Safety System (EESS) database through the ACMA.

What is important about RCM?

Why is RCM in Healthcare So Important? –

  1. A well-designed and implemented RCM system shortens the billing and collection cycles by accurately registering, appointing, scheduling, and processing payments.
  2. RCM integrates administrative data (such as a patient’s identity, insurance plan, or other pertinent patient demographics) to the care that a patient receives.
  3. It helps practices save time and money by lowering the number of denied claims and making it possible for patients to make payments online.
  4. It connects the commercial and clinical sectors of healthcare.
  5. RCM systems are used by healthcare organizations to store and manage patient billing information.
  6. By integrating EHR and billing systems, it shortens the time between providing a service and getting paid for it while also lowering administrative expenses.
  7. RCM facilitates communication and connection between accounting and EHR (Electronic Health Record) systems.
  8. All administrative responsibilities fall under RCM’s purview including notifying patients of forthcoming appointments, reminding patients and payers of outstanding balances, and contacting insurers when a claim is denied.

What is RCM in HR?

2149127 – What is the difference between RCM and RMK? A customer would like to understand difference between RCM and RMK. SuccessFactors Recruiting (RCM) – All versions

  • What is Recruiting?
  • The SuccessFactors Recruiting solution helps companies attract, engage, and select the best talent match.
  • The Recruiting Execution solution consists of two modules: Recruiting Marketing and Recruiting Management.

Recruiting Marketing (RMK ): Focuses on attracting and engaging candidates. This module increases sourcing ROI by showing clients which marketing strategies result in the best candidates for the lowest cost. The Recruiting Dashboard, a key part of Recruiting Marketing, displays metrics for elements like time to fill a position and budget savings.

  1. Recruiting Marketing also features smart job publishing to distribute jobs, Search Engine Optimization (SEO) to drive more traffic, and a talent community to capture passive candidates.
  2. Recruiting Management (RCM) : The RCM Applicant Tracking System supports the sourcing capability of Recruiting Marketing.

The module supports opening requisitions, processing candidate applications, and selecting the best candidate for a position.

  1. – Identify, screen, select, hire, and onboard internal and external job applicants.
  2. – Move candidates through recruiting pipeline to the appropriate stage
  3. – Manage interview, offer, and hire process to close the requisition

RCM, RMK, Recruiting, KBA, LOD-SF-RCM, Recruiting Management, LOD-SF-RMK, Recruiting Marketing, How To SAP SuccessFactors Recruiting all versions : 2149127 – What is the difference between RCM and RMK?

Is billing part of revenue cycle?

Revenue Cycle Management (RCM) – Revenue cycle management (RCM) is a more comprehensive approach that encompasses billing, collections, and payments. This holistic approach can help your organization improve financial viability by optimizing cash flow, reducing denials, and improving accounts receivable.

Integrating RCM into your organization can help to ensure that every patient encounter results in clean claims and prompt payment. By taking a proactive approach to reimbursement, you can avoid the delays and disruptions that can occur when claims are denied or underpaid. In addition, a well-designed RCM system can help you to achieve greater visibility into your AR, allowing you to identify issues and take corrective action more quickly.

RCM can help your organization improve its bottom line by streamlining claims processing and payment collection. In addition, by providing greater transparency into the revenue cycle, RCM can help you to make more informed decisions about areas of need or opportunity.

Is billing part of CRM?

Typically, companies use Customer Relationship Management (CRM) to enhance customer relationships, personalize communication, and build a long-term relationship with the customer. They also use it to identify quality leads, convert them into customers, increase sales, and address customer issues.

But there is one aspect of CRM that’s either less explored or relatively unknown. That’s the billing management. Companies often treat bill management as an operational drill – i.e., companies send the bill, customers pay, and the process ends. What companies often forget is that bill management is a crucial part of customer experience.

In the US, 33% of customers said they would consider switching if they are unhappy with the billing service. These issues could range from errors in statements, wrong discount codes, mismanaged subscriptions, credit card expiry, errors in the renewal process, etc.

What is direct billing also called as?

Direct carrier billing Mobile payment method Direct carrier billing is an online payment method. It allows users to make purchases by charging payments to their mobile phone bill Direct carrier billing (DCB) is an online method which allows users to make purchases by charging payments to their mobile phone carrier bill.

The global direct carrier billing market has a current valuation US$ 54 billion (2022). A new study from has found that the value of end-user spend on digital goods via carrier billing will exceed $74 billion by 2026. Direct Carrier Billing is useful in and interactive services for companies across media, charity, gaming, ticketing, mobility, and other digital services.

It is especially effective in and undeveloped areas where usage is not widespread. There are more than 1 billion adults that still remain or,

Is billing and invoicing the same thing?

Bill & Invoice – Key takeaways – Invoices and bills convey the same information about the amount owed as part of a business transaction, but an invoice is generated by businesses that provide services, while customers receive invoices as bills to be paid. This is just a matter of who is referring to the document. We can illustrate in this example.

  1. A business renders a service to a customer, and issues an invoice.
  2. The customers receive a bill
  3. The customer pays the bill

Good accounting invoicing software will simplify payment collection. An electronic billing and invoicing software like eLabs can make it easy to issue these documents and automate payment collection. Click here to book your demo and simplify recurring payment management for your business!

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