Threshold Limit for GST for Brokrage of Auction of Property

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36 Points Posted on 27 March 2023

Hi,

Is GST applicable for Individual Broker engaged in auction of Property.

If yes what is the limit annual limit for broker.

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On 27 March 2023 at 19:13 Report
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Quick Summary
This discussion clarifies whether individual brokers involved in property auctions are liable for GST. It highlights that GST registration is required if your annual brokerage income exceeds the threshold limit of £20 lakh for the supply of services. Exceeding this amount means you'll need to register for GST.

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GST Practitioner
55067 Points Posted on 27 March 2023
As per Section 22 the threshold limit for supply of services is 20 lac .
So if your brokeage income is exceeds the said limit you are required to take registration.
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On 27 March 2023 at 23:21
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Profession Business
28246 Points Posted on 29 March 2023
The threshold limit for supply of services is 20 lacs.
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On 29 March 2023 at 20:27

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