Nikita Rane 12 July 2019
kindly guide me as to..
sales made to B2b where in royalty is alsoo charged. But no gst has been changed on royalty @ 5%.
My query is as below.
1) Firstly Gst will be charged on royalty @ 5% .kindly confirm the same.
2) in gstr1 how we will shown this amount as royalty on mining will be directly paid to govt.
plz revert at the earliest.
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Pankaj Rawat (GST Practitioner) 12 July 2019
1. .RCM is applicable on Royalty &. it attracts the same rate of tax as on supply of the like goods involving transfer of title in goods
2. GStR 1 is to report Outward supply , but Royalty paid is Inward supply hence No need to show in GSTR 1