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brokerage commission

P.KANNIYAPPAN VAT/INCOME TAX P (MBA) (26 Points)

27 April 2019

I am a sub broker of share
trading firm

My brokerage commission is 15 lakhs per annum

Whether i have to register under gst

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3 Replies

montee Idaiyar (other) (341 Points)
Replied 27 April 2019

Yes. Mandatory for commission income.

4 Like

Pankaj Rawat (GST Practitioner) (55037 Points)
Replied 28 April 2019

sub broker is providing services both to the broker and the investor on behalf of the broker, the sub broker would be duly covered within the definition of ‘agent’ as provided in Section 2(5) of the CGST Act, and needs to compulsorily register themselves under GST without the threshold exemption under Section 24(vii) of the CGST Act, 2017.