GST needed for Section 7 Company (Foundation)
This query is : Resolved
17 January 2020
Dear Experts,
I have a query
1) GST registration required for Section 7 Company under GST. We receive a Donation amount annually above Rs.40 Lacs. ( GST applicable if aggregate turnover More than Rs.40 Lacs)
2) Donation is treated as receipts in GST or not.
3) Bill as by company reimbursing the same under CSR Funding to Secion 7 Company. If register the same bill to be shown under GSTR1 in Exempted head.
Thanking you
Ajay Pandey
I have a query
1) GST registration required for Section 7 Company under GST. We receive a Donation amount annually above Rs.40 Lacs. ( GST applicable if aggregate turnover More than Rs.40 Lacs)
2) Donation is treated as receipts in GST or not.
3) Bill as by company reimbursing the same under CSR Funding to Secion 7 Company. If register the same bill to be shown under GSTR1 in Exempted head.
Thanking you
Ajay Pandey
17 January 2020
Donations received by Non-Profit organisations does not constitute taxable event under GST. As receipt of
donations will not satisfy business definition under GST Act and there is no element of supply of services
embedded in it. These donations will not be considered in the calculation of Turnover.
donations will not satisfy business definition under GST Act and there is no element of supply of services
embedded in it. These donations will not be considered in the calculation of Turnover.
Message likes :
1 times
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Last year TDS Claim
- GST Registration Horse racing
- Small dealers gst returns filing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Free lancer income
- Long Term Service award taxability in hands of company
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
