Gst to be paid or not
This query is : Resolved
Chakradhar Chowdary
(Querist)
07 June 2019
i'm having a doubt whether we need to pay tax or not in one case.
the following case is as follows.
i have sent some goods to my agent, he lost a part of them, so paid some compensation to me. that part i have shown in my balance sheet under other income. now i should pay GST on that income or not.
under which section.
please help me with this
the following case is as follows.
i have sent some goods to my agent, he lost a part of them, so paid some compensation to me. that part i have shown in my balance sheet under other income. now i should pay GST on that income or not.
under which section.
please help me with this
CA R SEETHARAMAN
(Expert)
07 June 2019
No nee to pay GST on this income but you have to reverse ITC on material lost.
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