Whether gst is applicable on profit of joint venture
This query is : Resolved
C V KHIMANI
(Querist)
08 June 2019
we are in joint venture business and sharing profit as per the JV agreement. whether GST is applicable on profit of joint venture. We are paying GST on Sales made in business. If exempted then under which section we can claim the exemption under GST.
CA R SEETHARAMAN
(Expert)
08 June 2019
No, GST is not applicable on profit of joint venture. You have made GST payment on your sales in joint venture that's enough. Profit sharing will not fall under supply hence no GST applicable.
C V KHIMANI
(Querist)
08 June 2019
SIR THANKS . MY QUERY IS SOLVED
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