Tax liability
This query is : Resolved
17 December 2018
i have associated with "mahindra finance" as an agent and provides services for financing commercial vehicle. i have earned a commission of Rs.350000. the company saying me to register under GST and levying 18% gst rate or 5% rate. the company will pay the net amount after deducting GST. the company said me that there are two rates available.one is 5% under which no credit is available and the other one is 18% under which i can claim credit.
i don't know what the company actually wants to say.and also tell me the GST deducted by company is refundable or not.
is this input tax or output tax for me?
what is the SAC code for me for registration.
thanks
i don't know what the company actually wants to say.and also tell me the GST deducted by company is refundable or not.
is this input tax or output tax for me?
what is the SAC code for me for registration.
thanks
17 December 2018
Agents need to take compulsory registration irrespective of the turnover. Once you get registered under GST, you need to raise a tax invoice to your principal with applicable GST rate (18%). You can take input credit if you have any inward supplies that is used to effect outward taxable supplies.
17 December 2018
Is there any 5% rate that i have just mentioned in query..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Form 121 & TDS deduction
- Regarding appeal to GSTAT
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- LC charges in relation to Asset purchased should be Capitalised ?
- Invoice V/S Goods receipt Note Date
- Value of property in capital gain
- Multiple trade mark
- Regarding TDS Applicability For Director Remuneration
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
