Clarification on advertising agency billing format
This query is : Open
13 August 2017
Dear sir/madam
1.Our company is an advertising agency engaged in the activity of publishing ads in news papers.
2.publications are charging gst@5% of net taxable amount from us after agency commission .
3.In what way we have to bill to Client .
4.Weather we have to collect Gst @ 5% or 18% of Commission received to our agency or both
at preset we re giving bills to client as for example as follows:
Goss Bill amount 10000
Less Dis @10% 1000
Net amount 9000
Publication Gst 425
(10000*85/100*5/100)
Agency GST 270
(10000*15/100*18/100)
on Commission received
Total 9695
Please guide we on this issue.
1.Our company is an advertising agency engaged in the activity of publishing ads in news papers.
2.publications are charging gst@5% of net taxable amount from us after agency commission .
3.In what way we have to bill to Client .
4.Weather we have to collect Gst @ 5% or 18% of Commission received to our agency or both
at preset we re giving bills to client as for example as follows:
Goss Bill amount 10000
Less Dis @10% 1000
Net amount 9000
Publication Gst 425
(10000*85/100*5/100)
Agency GST 270
(10000*15/100*18/100)
on Commission received
Total 9695
Please guide we on this issue.
13 August 2017
Whether invoice mentions about the full value of advertisement and commission payable to you is deducted therefrom or invoice is made by the Newspaper agency only for net cost of advertisement?
N Jain
group.blr@gmail.com
N Jain
group.blr@gmail.com
13 August 2017
thank you for your reply ,
Some News papers Specifically mentions as agency discount (i.e 15%)in their invoice and collect Gst @5% after discount amount .and sends the invoice to us
Some News papers Specifically mentions as agency discount (i.e 15%)in their invoice and collect Gst @5% after discount amount .and sends the invoice to us
13 August 2017
It looks that the Newspaper is not paying any commission but charging a lower price for adv. from you and you are also billing on full value. In view of this GST @ 5% is applicable.
N Jain
gourp.blr@gmail.com
N Jain
gourp.blr@gmail.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- ITR returnFY25-26
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
