Sponsorship service by trust registered under 12a
Ritik Agarwal (19 Points)
19 May 2022Ritik Agarwal (19 Points)
19 May 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14112 Points)
Replied 19 May 2022
Ritik Agarwal
(19 Points)
Replied 19 May 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14112 Points)
Replied 19 May 2022
Ritik Agarwal
(19 Points)
Replied 19 May 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14112 Points)
Replied 19 May 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14112 Points)
Replied 19 May 2022
The word " Medical Relief " has been used in section 2(15) of the Income tax act , So please take others opinion also regarding this or confirm with others also .
Rajendra Prasad
(Employee Private)
(1824 Points)
Replied 19 May 2022
In my view and understanding,
Notification No.12/2017-Central Tax Rate for exempted services has been exempted the services chargeable under Section 9(1) only.
As per the notification any Services provided by an entity registered under Section 12AA under Income Tax, 1961 by way of "Charitable Activities" are exempted. Also defined "Charitable Activities" in same Notification. If said services covered the definition then exempted, else Taxable.
Whereas Reverse charge Notification No.13/2017- Central Tax Rate, notified the services which has been chargeable in the hands of recipient. Any sponsor ship services received by Body corporate by an entity registered under Section 12AA shall be taxable under reverse charge no exemption on it.
Rajendra Prasad
(Employee Private)
(1824 Points)
Replied 19 May 2022
Also the entity is not required to issue any Tax Invoices, just issue a "Bill of Supply".
prasad Nilugal
( GST Practitioner & Accounts )
(14112 Points)
Replied 19 May 2022