A Commission agent earned Rs. 21 Lakhs commission from Mutual Fund and 25 lakhs commission from LIC India for FY 2021-22 but due to unawareness not registered under GST.
Whether he need to take GSTIN and pay tax for FY 2021-22?
Whether GST applicable in LIC Income (LIC deduct 5% TDS only from commission)
1. Yes.
2. Yes, TDS deductible.
Shyam Joshi & Associates
Pune
B.Com
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SMJ global advisors pvt ltd
New Delhi
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T R SOOD & CO
New Delhi
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CAclubindia
