I(as a trader) have shown certain income from my parent company as commission received under Indirect Income in balance sheet/ PL a/c. GST will applicable or not? If so, please clarify with example.
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Quick Summary
This discussion clarifies whether Goods and Services Tax (GST) is applicable to commission income received by traders in India, particularly concerning Section 194H of the Income Tax Act. It confirms that if you are registered under GST, you are liable to charge and pay GST on commission income, typically at an 18% rate. The advice also touches upon TDS implications if your income exceeds ₹15,000.