Regarding tax effect on commission income
This query is : Open
07 September 2019
ASSESSEE HAS TURNOVER RS. 34 LAKHS UNDER COMPOSITION SCHEME AND OTHER THAN THESE INCOME ASSESSEE HAS COMMISSION INCOME OF RS. 2 LAKHS. WHETHER HE IS LIABLE TO PAY GST ON SUCH COMMISSION INCOME? IF, YES THEN IN WHICH SECTION AND WHICH RATE ?
09 September 2019
SInce you are a registered dealer, you shall have to pay GST on all the taxable services as well as goods.
In your case
Since the value of Supply of service i.e commission income within 10% of the total turnover of the company, it can be included in the composition scheme. So tax has to be paid under tax as per composition only.
In your case
Since the value of Supply of service i.e commission income within 10% of the total turnover of the company, it can be included in the composition scheme. So tax has to be paid under tax as per composition only.
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