GST on Directors Sitting Fees

This query is : Resolved

AviGan (Querist)
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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.

Lekhraj sood

Lekhraj sood (Expert)
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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.

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AviGan

AviGan (Querist)
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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.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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27 December 2020 Yes taxes paid as RCM can be taken as ITC in the said month and adjust the tax liability accordingly.

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