Can i give GST refund as dividend to shareholder ? GST refund will be received in next FY for the OPC. i understand DDT has to be paid by company, and 10 percent dividend tax by shareholder.
Thanks :)
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Can i give GST refund as dividend to shareholder ?
Replies (9)
Quick Summary
No you cannot pay GST Refund as dividend to shareholders.
| Originally posted by : Sourav | ||
 |
No you cannot pay GST Refund as dividend to shareholders. |  |
So, how can i transfer the GST refund to the shareholder of OPC ? Thanks :)
1) DDT has been abolished vide Finance Act 2020 and now shareholders are required to pay tax on dividends.
2) GST refund of OPC is part of the company. Refund will be given in case of excess payment of tax and that excess payment would have been made by OPC.
So, how can i transfer the GST refund to the shareholder of OPC ? Thanks :) Read more at: https://www.caclubindia.com/forum/can-i-give-gst-refund-as-dividend-to-shareholder--574788.asp#reply
So, how can i transfer the GST refund to the shareholder of OPC ? Thanks :)
Read more at: https://www.caclubindia.com/forum/details.asp?mod_id=574788#reply
Read more at: https://www.caclubindia.com/forum/details.asp?mod_id=574788#reply
So, how can i transfer the GST refund to the shareholder of OPC ? Thanks :)
Read more at: https://www.caclubindia.com/forum/details.asp?mod_id=574788#reply
Read more at: https://www.caclubindia.com/forum/details.asp?mod_id=574788#reply
So, how can i transfer the GST refund to the shareholder of OPC ? Thanks :)
Read more at: https://www.caclubindia.com/forum/can-i-give-gst-refund-as-dividend-to-shareholder--574788.asp#reply
Read more at: https://www.caclubindia.com/forum/can-i-give-gst-refund-as-dividend-to-shareholder--574788.asp#reply
Simple. you cannot
| Originally posted by : CMA Poornima Madhava | ||
|
Simple. you cannot | |
So it becomes part of next FY opc income? I could give that as director salary? Thanks madam :)
GST refund as such is not an income but interest received on GST refund is an income for the OPC.
| Originally posted by : CMA Poornima Madhava | ||
|
GST refund as such is not an income but interest received on GST refund is an income for the OPC. | |
So should the GST refund never be taken out of company account ? It should just lie there till closure of company? Thanks madam :)
Dividend is something which you earn and then distribute.If you have reserves and surplus you can distribute dividend in accordance with section 123 read with rule 3
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