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.
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
CAclubindia
