1) 20lacs criteria for commission or product (air/train ticket)sold.
2)How to calculate GST for special fare tickets given by airline for travel agent(B2B deal).
3)How to do accounting on markup amount taken from client as an booking charges.
4) What is reversed calculations on ticket booking.
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Impact of GST on travel agent
Replies (5)
1) Rs. 20 Lacs criteria only on Commission not on Product
Does it mean if I take package from vendor @ 4.5L and sold to client in 4.55L then my turnover is for 5000/- only.
No, if u r acting a tour operator
and designing a package for your client, then entire sale amount will be consider in your turnover.
But in case of getting commission from various airlines. Sole commission amount will be your turnover
in short, commission + package sale, aggregately for the year will be your turnover. ( This has been already illustrated in ICAI guidance notes)
in short, commission + package sale, aggregately for the year will be your turnover. ( This has been already illustrated in ICAI guidance notes)
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