Excerpt from our icai module "No need to pay tax on which absolute exemption granted-where an exemption in respect of goods/services has been granted absolutely, the registered person supplying such goods /services shall not collect tax, in excess of effective rate" Can anyone please explain above Sec 11 of CGST act 2017 in lucid manner
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Sec 11 of cgst act
Replies (3)
IInd doubt Charitable activities, GTA, legal, Govt service, Financial service, Service Provided by unincorporated body or non profit entity,-In all such services there is some prescribed limit, in excess of limit ,remaining amount is taxable.
But "performance by an artist" this service is slightly different -in this case, entire contribution is taxable if the amount of service is in excess of prescribed limit.
Is my understanding correct?
In Both Cases All Amount is Taxable
For. Exp
If Entity registered under 12AA of IT Act. If it charges rent for the room more than 1000 per day than the whole Amount taxable.
b) If service by artist by way of a performance in more than Rs. 150,000/- then whole amount taxable
In above both cases, the same principle applies
If Govt give 100% Exemption than No need to collect Tax
or If Govt gives 50 % exemption than Collect 50 % Tax
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