Commission on gst

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2017 Dear Sir,

My Question is
1. GST is Applicable on Fiance Commission Agent ?
2. if applicable which ratio (0 5 12 18 28)?
3. if agent paid on GST on commission that GST will reimburse to Agent, if reimburse guide us how ?
4. GST number is mandatory for Commition Agnet?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 September 2017 1 GST applicable on finance commission if such receipts exceed in a year 20 lacs.
2 18% applicable.
3 Claim commission bill as tax invoice with GST commission with GST will be paid to you.
4 GST number is mandatory if commission income exceeds 20 lacs.

Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2017 Thanks Sir,

one more question regarding last Q3, if i got Tax invoice with GST , shoud i get that GST en-cash that GST in Bank Account, if yes guide me How?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 September 2017 You have to remit the GST to Govt.

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