Dear professionals,
It would be so kind of you if you suggest me on how should I suggest my new client, who has opened a gymnasium, regarding the membership fees from members, is it taxable? And the input for equipments he has bought...
Since the firm is new then obviously it might have not crossed 20lac turnover to get compulsory registration of GST so no GST can be levied by your client.
Now if assessee wishes to take credit of GST paid on inputs he need to get registered or else he can charge them as expense and include in cost and collect from customers
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
