Input credit on gst paid in reverse charge.
This query is : Resolved
Quick Summary
13 February 2020
there is a GST registered hospital.
Professional fees is paid to directors of the company who are directors by profession.
Whether ITC is available of such GST?
Whether it is available fully or not?
whether directors should be paid professional fees or salary for avoiding GST burden?
Professional fees is paid to directors of the company who are directors by profession.
Whether ITC is available of such GST?
Whether it is available fully or not?
whether directors should be paid professional fees or salary for avoiding GST burden?
14 February 2020
Whether to pay salary or professional fee?
In reality it is other way round. In the first place, amount is agreed say 10 lakh per annum. Now the recipient has to decide if s/he wants as professional fee or salary.
In either case the gross amount would remain 10 lakh.
In reality it is other way round. In the first place, amount is agreed say 10 lakh per annum. Now the recipient has to decide if s/he wants as professional fee or salary.
In either case the gross amount would remain 10 lakh.
14 February 2020
what if amount is not fixed to be paid?
17 February 2020
ITC is available on the director's fee.
Director's fee is to be paid by the hospital under RCM and full credit is available.
From the GST point of view, salary payment to directors is more beneficial.
Director's fee is to be paid by the hospital under RCM and full credit is available.
From the GST point of view, salary payment to directors is more beneficial.
17 February 2020
Thank You Anita madam.
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