CHIT Fund in Gst
Dinesh Mantri (52 Points)
27 October 2020
can anyone pls explain in detail taxation of chit fund in GST??
1 Replies
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 28 October 2020
In case chit fund :
The money collected from members is Exempted in term of Notification 12/2017 CT (R) , yes the commission paid to Chit Fund manager for his services is being taxable Under Head 9971 @ 12% GST
The money collected from members is Exempted in term of Notification 12/2017 CT (R) , yes the commission paid to Chit Fund manager for his services is being taxable Under Head 9971 @ 12% GST
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