Hi , if someone is providing Transportation services ( who is not owning the vehicle but providing services as an intermediary ) and the total gross receipts for the year are more than 70 lakhs. Is he suppose to file GST returns? Even if he file what will be the outward and inward supplies for him?
pl. Explain!
6 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14916 Points)
Replied 01 August 2018
As per section 24(vii) of the CGST act 2017 an agent requries compulsary registration .irrespective of trunover
1) If agent is taking only commission then the bill is being raise by principal to client directly ,so in this case the principal will file GST retrun .
2) If principal raising bill to agent & agent further raising bill to client in this case both agent & principal will file GST retrun .
you have to take more opinion
Pankaj Rawat
(GST Practitioner)
(55062 Points)
Replied 01 August 2018
per section 24 CGST act ( compulsory registration)
vii] persons who make taxable supply of goods or services or both on behalf of other taxable persons whether as an agent or otherwise;
AND
As per definition of agent
Section 2(5) of The Central Goods and Services Tax Act, 2017 provides for definition of agent as follows: “agents” means a person including a factor, broker, commission agent, arhatia, del credere agent, or an auctioneer or any other mercantile agent, by whatever name called, who carries on the business of supply or receipt of goods or services or both on behalf of another.
So commssion agent has to registered irrespective of turnover
vii] persons who make taxable supply of goods or services or both on behalf of other taxable persons whether as an agent or otherwise;
AND
As per definition of agent
Section 2(5) of The Central Goods and Services Tax Act, 2017 provides for definition of agent as follows: “agents” means a person including a factor, broker, commission agent, arhatia, del credere agent, or an auctioneer or any other mercantile agent, by whatever name called, who carries on the business of supply or receipt of goods or services or both on behalf of another.
So commssion agent has to registered irrespective of turnover
Harshini
(Meerpet)
(43 Points)
Replied 01 August 2018
ok Prasad nilugal , but in case 2 what will be the taxable value of services in case of both agent and principal ?
prasad Nilugal
( GST Practitioner & Accounts )
(14916 Points)
Replied 02 August 2018
Read rule 29 of the CGST rules 2017 for determination of value of supply .
In case of pure agent read rule 33 of the CGST rules 2017
Recent Topics
- Amount withdrawn from capital gain account scheme
- TDS RETURN REJECTED with Reason Line no 2 –
- Issue in e_filing of IT return
- New India Coop Bank Frozen Account
- GST Registration for export of services under sec2
- Exemption Available or not under new tax regime
- Loss on F & O
- FCNR DEPOSIT INTEREST EARNED REPORTING IN ITR2
- Rectification of tDS
- Interest from SCSS in ITR
Related Threads
Trending Online Classes
CAclubindia
