RCM on Sponsorship
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.
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
11 December 2019 Charge it as expenses in p and l if you can't get back it from education institution