|Originally posted by : CA MONIKA
||A Yarn broker earns commission from party as well as company. Commission earned is less than 20lakhs. Parties dealing with yarn broker are insisting for his GST no. Is yarn broker required to obtain GST no. ?
Dear CA. MONIKA.,
In my View Above Query.,
A is a Broker, B (seller) & C (receiver) is transact parties. A ll be dealing commision basis for the earnings. His T/O is less than 20lakhs he don't want register under GST.
In case B ll be preparing Invoices to A's name and A ll be invoicing to C's name then it ll be above 20lakhs T/O to A.
A want to be register under GST as Regular Dealer if his T/O above 20lakhs. Can't opt Composition.... Bcoz, He doing commision based business...
C is also under RCM if A is URD....
Am i right...?!