No, RCM is applicable on goods too and not just on services.
The reason for having Reverse Charge Mechanism is that – it was observed that many unorganised sector suppliers are either unregistered or very small business entities facing tax compliance issues and were unable to pay taxes intentionally or unintentionally. In such scenarios government will lose revenue. Hence burden of tax compliance was shifted on receiver of such supply. This lead to increase tax compliance and tax revenue. This is also applicable for those entities from whom it is difficult to collect tax such as non residents
List of Goods and Services under GST – https://taxguru.in/goods-and-service-tax/reverse-charge-mechanism-rcm-list-gst.html
