This is a Franchise Commission
Gross Comm. 42.50
GST deducted. 7.65
TDS deducted. 2.13
Net Commission received. Rs.32.72
Dear Sir
This is a Net commision received by one of my friends for working as franchise.
Can any one tell how this is been calculated..
Is the net commission correct.
They have deducted the GST and TDS from Gross commission..
Menu
How Net Commision Calculated
Replies (8)
If you are having GST number and When you issued Commission bill 42.50 +18% GST = 50.15 , you should receive 42.50 less TDS 2.13 Net amount 40.37 instead of 32.72.
And after that you have to deposit 7.65 GST collected to GOVT account out of 40.37.
And after that you have to deposit 7.65 GST collected to GOVT account out of 40.37.
Prasad Sir
If the bill amt including 18% GST is 50.15,
then I shd receive GST amt also know..
only TDS shd be deducted...right..
in 40.37 there is no GST amt.. Then how could I pay the GST from 40.37...Pls advise..
If the bill amt including 18% GST is 50.15,
then I shd receive GST amt also know..
only TDS shd be deducted...right..
in 40.37 there is no GST amt.. Then how could I pay the GST from 40.37...Pls advise..
What is the Invoice amount you charged commission that should pluse GST ?.
Sir
Actually, they them self gave this calculation
Gross Comm. 42.50
GST deducted. 7.65
TDS deducted. 2.13
Net Commission received. Rs.32.72
Actually, they them self gave this calculation
Gross Comm. 42.50
GST deducted. 7.65
TDS deducted. 2.13
Net Commission received. Rs.32.72
Have you issued Invoice of 42.50 + GST 7.65 ?.
We have not issued any invoice..
The calculation of commission was given by the company. I doubt if they have calculated wrongly.
The calculation of commission was given by the company. I doubt if they have calculated wrongly.
Are you Commission agent ?. what is the Business of your company ?.
We are franchise for Amazon easy store . Recently started. We have other services too like real estate services. We are GST registered.
The Calculation was given to us by the company
The Calculation was given to us by the company
Recent Threads
- Hi i have some doubt about my microsoft exam?
- Period of holding of residential flat and its acqu
- ITRs for AY 2025-26 filed in September 2025 not pr
- Heard & Seen Around – Your Daily Economi
- Best NISM course for an Accountant
- Calculate IT on LTCG AND STCG for the FY 2025-26
- Heard and Seen Around - Your Daily Economic Quick
- Returning to India - Residency confusion
- About CMP-08
- RCM List on GST
Related Threads
CAclubindia
