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GST Implications
Mr A, a famous actor, paints some painting and sells them.The consideration from such sale is to denoted to Charitable Trust.The sale of paintings by actor qualifies as supply.If value of supply exceeds Rs 20 lakhs what will be tax implications ?
Replies (2)
Paintings are classifiable in HSN 9701 and chargeable to GST @ 12%.
Will it be ok to considered it as supply as it is one time event ?
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