GST on consultancy charges

502 views
User Avatar

8 Points Posted on 22 January 2020
being private limited company, do I need to deduct GST on consultancy charges. consultancy is in relation finance. not sure whether it's registered under gst or not. pls provide ur expert advice for the same
1 Reply Share Follow
On 22 January 2020 at 22:04 Report
Replies (7)
Quick Summary
This discussion clarifies whether a private limited company needs to deduct GST on consultancy charges for financial services. It advises checking the consultant's GST registration status via their PAN on the GST portal. The standard GST rate is 18%. Crucially, Reverse Charge Mechanism (RCM) generally does not apply to consultancy charges, except for services received from advocates, which are considered legal services and do attract RCM under specific notifications.

User Avatar

Practice
145 Points Posted on 22 January 2020
1 Reply
On 22 January 2020 at 22:08
User Avatar

Practice
145 Points Posted on 22 January 2020

1. Check his registration status by PAN on gst portal.

2. GST rate is 18%

3. Kindly explain whether company is providing consultancy services or taking the services

1 Reply
On 22 January 2020 at 22:12
User Avatar

8 Points Posted on 22 January 2020
Company is taking consultancy services. if it's not registered then does it attract Rcm?
Reply
On 22 January 2020 at 22:14
User Avatar

Practice
145 Points Posted on 22 January 2020
No RCM on consultancy charges except Advocate services
1 Reply
On 22 January 2020 at 22:29
User Avatar

"Do the Right Thing...!!!"
128162 Points Posted on 22 January 2020
 if it's not registered then does it attract Rcm?
- No... rcm not applicable if Service received from other than Advocates...

In case the consultancy service received from Advocates as per sec 9(3) rcm applicable...
Reply
On 22 January 2020 at 22:38
User Avatar

GST Practitioner
55067 Points Posted on 22 January 2020
In addition above replies When it' is reced from advocate it's not consultancy services , it's a legal Services , & on legal services RCM Applicable (Refer Notification 13/2017 CT (r))
Reply
On 22 January 2020 at 23:58
User Avatar

"Do the Right Thing...!!!"
128162 Points Posted on 23 January 2020
Very Good reply Mr Pankaj Rawat Ji...
Reply
On 23 January 2020 at 08:22

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. CA Fees deduction for non audit case allowed?
  2. 5th Letter PAN Mismatch with Surname issues still
  3. Criteria to hire an article
  4. Guidence requested for a Finance Professional with
  5. Expert Opinion Required – Form 140 Gross Amo
  6. WRONG TAX DEMAND - formal responses , rectificatio
  7. Foreign remittance
  8. Affordable Residential Flats in Gurgaon
  9. Manufacturing
  10. TAN REGISTRATION ON E-FILLING SITE

More recent discussions | Post

Related Topics :

Loading