How Net Commision Calculated

prasad Nilugal

GST Practitioner & Accounts

15093 Points Posted on 16 December 2021

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.

Santhosh

Branch Accountant

94 Points Posted on 16 December 2021

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..

prasad Nilugal

GST Practitioner & Accounts

15093 Points Posted on 16 December 2021

What is the Invoice amount you charged commission that should pluse GST ?.

Santhosh

Branch Accountant

94 Points Posted on 16 December 2021

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

prasad Nilugal

GST Practitioner & Accounts

15093 Points Posted on 16 December 2021

Have you issued Invoice of 42.50 + GST 7.65 ?.

Santhosh

Branch Accountant

94 Points Posted on 16 December 2021

We have not issued any invoice..

The calculation of commission was given by the company. I doubt if they have calculated wrongly.

prasad Nilugal

GST Practitioner & Accounts

15093 Points Posted on 16 December 2021

Are you Commission agent ?. what is the Business of your company ?.

Santhosh

Branch Accountant

94 Points Posted on 17 December 2021

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