I arrange corporate parties and events and derive income from it in one of the 3 following cases. For eg. I am arranging a party for employees of Wipro in a restaurant named Socials. There are 3 ways in which i can bill: - Commission from Restaurant - I take commission from Socials and directly discharge my GST Liability @ 18% as GST on Commission - Restaurants bill + my Service fee and bill to Wipro - I will directly discharge my GST Liability @ 18% as GST on Service fee element only showing pure supply - I receive a bill of 50000 from the restaurant and i mark up 30000 and raise bill of 80000 to Wipro. Now for this scenario I have the following queries : 1. What should be my GST Rate as i am a service provider (event manager) and not a restaurant. 2. If my GST Rate is 18%, can i take credit of GST @5% paid on Restaurant's bill. 3. If my GST Rate is 5%, can i still take credit of GST @5% paid on Restaurant's bill or any other expenses incurred for arranging the party.
CAclubindia
