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Threshold Limit for GST for Brokrage of Auction of Property

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Smriti Anurag

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.

Replies (2)

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.

Pankaj Rawat

GST Practitioner

29904 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.