plz suggest me
GST payable under RCM whether include or not for calculate aggregate turnover.
like lic commission include or not for aggregate turnover.
9 Replies
Prem Kumar Chunduru
(165 Points)
Replied 07 December 2018
when a client is registered, all incomes to be considered as turnover as far as gst audit. lic commission also to be included.
ARJUN RAJPOOT
(9 Points)
Replied 07 December 2018
thanks sir but my question is whether lic commission include for calculate aggregate T/o for registration under GST
Ruchira
(Article)
(208 Points)
Replied 07 December 2018
Inward supplies on which taxes are paid under reverse charge are excluded from turnover.
Ruchira
(Article)
(208 Points)
Replied 07 December 2018
Since, GST is payable under RCM for LIC commission , thus this will not be included in aggregate turnover.
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 07 December 2018
@ Mr. ARJUN RAJPOOT.,
The said LIC commission is Your income then It will be also Calculate "Aggregate Turn Over" with any other Incomes earned by You...
The said LIC commission is Your income then It will be also Calculate "Aggregate Turn Over" with any other Incomes earned by You...
Rakesh
(Self Employed)
(51 Points)
Replied 09 December 2018
Pritish do u know who is paying RCM on LIC Commission?
Madhukar N Hiregange
(Chartered Accountant)
(39039 Points)
Replied 09 December 2018
RCM is not part of aggregate turnover 2(6). LIC comm is for a supply of service therefore included.
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