Sponsorship income & GST
This query is : Resolved
Avinash Jeevan Dsouza
(Querist)
03 October 2019
Who has to pay the GST? Service receiver or service provider? Is it applicable for RCM? If RCM then sponsor given party has to pay the GST right?
CA Ashwini Seeram
(Expert)
04 October 2019
The service recipient is required to pay GST under RCM, i.e. the person who pays the sponsorship amount is the service recipient and is required to pay under RCM
Avinash Jeevan Dsouza
(Querist)
04 October 2019
How do we need to show in GST1 and GSTR 3B?
In GSTR1- B2B with their GSTIN and need to say yes to RCM?
what about sponsorship amount received from unregistered person?
In GSTR1- B2B with their GSTIN and need to say yes to RCM?
what about sponsorship amount received from unregistered person?
CA Ashwini Seeram
(Expert)
04 October 2019
In GSTR-1 RCM needs to be marked as yes. In GSTR-3B it is not to be included. If an unregistered person is providing sponsorship, he is required to take regsitration under GST and pay tax under RCM. Please refer section 24 of CGST act
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