Case: I have client who is giving 25lacs to friend who is making flim in return the flim maker friend has entered into contract to share 12% of profit of whatever the flim earns.
Suppose the flim is about to earn 3cr
and as per contract the investor will get 36lacs in return including his investment. Is GST applicable to the investor and if on what amount?
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Is GST applicable???
Replies (3)
Depends on the nature of contract. Whether it is an investment in company or a partnership or a joint venture. It will depend on the nature of contract
What if it is an investment
what if its joint venture
what if its joint venture
If it is joint venture then no GST. If it is an investment not in the nature of equity or loan then GST may be attracted.
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