GST on Directors Sitting Fees
This query is : Resolved
18 November 2020
Sir/Madam
Please clarify the following doubts:
Private Limited Company Incorporated in Lucknow Uttar Pradesh
Has Board Meeting at Lucknow.
Director residing in Delhi attends meeting virtually
Directors Sitting fees is paid to director
Does Company have to pay CGST &SGST under reverse charge
or does Company pay IGST under reverse charge
Can ITC of tax paid under reverse charge on directors sitting fees be taken after discharge of tax liability.
Thanks in Advance.
Please clarify the following doubts:
Private Limited Company Incorporated in Lucknow Uttar Pradesh
Has Board Meeting at Lucknow.
Director residing in Delhi attends meeting virtually
Directors Sitting fees is paid to director
Does Company have to pay CGST &SGST under reverse charge
or does Company pay IGST under reverse charge
Can ITC of tax paid under reverse charge on directors sitting fees be taken after discharge of tax liability.
Thanks in Advance.
18 November 2020
You can charge IGST. ITC will be available to the company because the expenses are in relation to and for the purpose of business.
Message likes :
1 times
20 November 2020
Sir Thank You for the guidance. I will be paying the IGST under RCM in the 3B of October.Self invoicing done in month of October Can I avail input tax credit in October GSTR 3B and also utilize it in October GSTR-3B. Thank You.
27 December 2020
Yes taxes paid as RCM can be taken as ITC in the said month and adjust the tax liability accordingly.
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Average Cost Of High Quality Diamonds
- Reporting in TDS return
- Grand in aid
- ASMT-10 received from A O
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Gst on travel by air for business purposes
- Loss of interest in PF transfer from EPFO to Trust
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
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
