One my friend does Money Transfer Business, he gets only 1.5% commission on transfer but in the bank statement there will be more than 1 crore cash deposit how we can his return other then tax audit
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Money transfer business
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Dear Sir
If your client is working as commission agent than you have to consider only commission amount as Income.
I am a Domestic Money Transfer Agent. My Gross Receipts (commission amount received from customers) are below 20 lakhs only. But I registered myself with GST under the impression that I can show NIL return because the commission (turn over) is less than 20 lacs only. Should I still pay GST @ 18% to Government or Not? I am not charging anything extra from my customers as GST seperately. If I start charging 18% GST, I will lose my business bcoz the next shop guy who is not registered with GST is not charging this 18%. So customers don't come to me. Please give me an idea on how to deal with it!
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