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
- TAN for Partnership
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- Free lancer income
- What is provisional receipt number for generation of form 16A
- TDS related Query_Liquidated Damages
- LTCG for Assmt year 26-27
- NON- SUBMISSION OF LLP FORM 3
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- 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
