I am working as project managememt consultant on contract in government organization but on third party pay roll.
Will the third party deduct gst on the monthly money they pay to us. And after deducting gst, while return filing also we have to pay tax on 50% of income under itr for professionals. Is there a way we can claim the gst deduction or get it balanced somehow?
Thanks in advance.
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Gst for professional s
Replies (2)
No they won't deduct any GST from the monthly amount they pay to you. And if your professional fees exceeds 20lakh then you have to take registration of GST and charge GST accordingly on invoice raised by you to third party.
As per rule GST not deductible in the service amount. Ask the details to party
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