GST on Directors Sitting Fees
This query is : Resolved
18 November 2020
Sir/Madam
Please clarify the following doubts:
Private Limited Company Incorporated in Lucknow Uttar Pradesh
Has Board Meeting at Lucknow.
Director residing in Delhi attends meeting virtually
Directors Sitting fees is paid to director
Does Company have to pay CGST &SGST under reverse charge
or does Company pay IGST under reverse charge
Can ITC of tax paid under reverse charge on directors sitting fees be taken after discharge of tax liability.
Thanks in Advance.
Please clarify the following doubts:
Private Limited Company Incorporated in Lucknow Uttar Pradesh
Has Board Meeting at Lucknow.
Director residing in Delhi attends meeting virtually
Directors Sitting fees is paid to director
Does Company have to pay CGST &SGST under reverse charge
or does Company pay IGST under reverse charge
Can ITC of tax paid under reverse charge on directors sitting fees be taken after discharge of tax liability.
Thanks in Advance.
18 November 2020
You can charge IGST. ITC will be available to the company because the expenses are in relation to and for the purpose of business.
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20 November 2020
Sir Thank You for the guidance. I will be paying the IGST under RCM in the 3B of October.Self invoicing done in month of October Can I avail input tax credit in October GSTR 3B and also utilize it in October GSTR-3B. Thank You.
27 December 2020
Yes taxes paid as RCM can be taken as ITC in the said month and adjust the tax liability accordingly.
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