How much GST on 17 Lakh Payment

My CA is saying that i have received payments on 17 lakh rs in last 5 months, so i have to pay 3.5 Lakh rs as GST.

 

but i didn't make any profit... is he right or wrong?

 

My GST SLAB IS 18% and i am a service provider.

Replies (7)
If you cross the 20 lac limit in this financial year then you should take the GST registration. other wise no.
You need to identify that 17lac pertains to what..

>> if it is from your customers, you need to pay 18% get even if it is advance payment for services yet to be provided.

>> if it is any sort of Loan- No GST

>> if it has been received from debtors of earlier months, gst must have been paid earlier while invoicing in earlier months; hence no gst now.


so firstly you need to identify nature of those 17 lacs .

hope it's helpful.

its a payment for services? 3 lakh looks too much dont u think?

If you received whole 17 lakh from your debtor whom you provided service and you are registered unde GST. so you will have to pay. If you have receive the amount exclusive GST so call your debtor and receive GST amount. haven't you prepared any bill to debtor.?

yes... i received it for providing service to a organization... can i pay less GST?

Are you registered under GST ???
You can also write to me  at sthayin @ gmail for further assistance

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