RCM on Sponsorship
This query is : Resolved
11 December 2019
Our Company is registered under GST and paid Rs 50,000/- + 9,000/- GST as Sponsorship fees to a Educational institution, So who can pay the GST on RCM basis.Whether Input GST Credit can be taken on the invoice issued by educational Institution.
CA R SEETHARAMAN
(Expert)
11 December 2019
Such GST payable under RCM. No ITC can be taken on such invoice.
11 December 2019
What treatment the educational institution will do regarding Rs9000/- GST collected by them. and what will be the Sponsorship expenses in our profit and loss a/c
CA R SEETHARAMAN
(Expert)
11 December 2019
Charge it as expenses in p and l if you can't get back it from education institution
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